• ASX IPO activity has surged in the last two months
  • Average gain since listing is 52 per cent
  • 10 more companies set to list in the coming month

ASX IPO activity has picked up substantially in the past couple of months.

Since Stockhead last recapped 2020’s ASX IPO activity in early August, eight new companies have joined the bourse raising $215 million between.

That’s boosted 2020’s total from $143 million to $358 million.

The average gain is currently 52 per cent – slightly lower than in early August but still well ahead of 2019’s average gain of 35 per cent.

Here are all of the ASX’s IPOs in 2020 (excluding demergers & reverse takeovers):

Swipe or scroll to reveal the full table. Click headings to sort.

3 Code Company Offer Size ($M) Offer Price Last Price Offer To Date
24-Jan COS COSOL Ltd 12 0.2 0.66 230
31-Jan CBE Cobre Ltd 10 0.2 0.16 -20
12-Feb EMD Emerald Clinics 6 0.2 0.079 -61
14-Feb TDY Thedocyard Ltd 4 0.2 0.19 -5
20-Feb LGP Little Green Pharma Ltd 10 0.45 0.28 -38
28-Feb KAU Kaiser Reef Ltd 4.5 0.2 0.41 105
16-Apr AT1 Atomo Diagnostics Ltd 30 0.2 0.38 90
20-Apr AL3 AML3D Ltd 9 0.2 0.55 175
25-May ICR Intelicare Holdings Ltd 5.5 0.2 0.3 50
14-Jul MKR Manuka Resources Ltd 7 0.2 0.45 125
24-Jul ARX Aroa Biosurgery 45 0.75 1.36 82
6-Aug DDB Dynamic Drill & Blast 5 0.2 0.37 85
7-Aug 4DX 4D Medical 55 0.73 1.52 108
12-Aug DUG DUG Technology 26 1.35 1.24 -9
1-Sep FFF Forbidden Foods 6 0.2 0.295 48
8-Sep LBY Laybuy 40 1.41 1.54 9
16-Sep NSM North Stawell Minerals 20 0.5 0.465 -7
18-Sep SRJ SRJ Technologies 8 0.5 0.715 43
23-Sep PLT Plenti 55 1.66 1.29 -23

 

Recent IPOs mixed

Of the eight ASX IPOs in the last two months, performances have been mixed. The leader of the pack is lung imaging software maker 4DMedical (ASX:4DX) which has more than doubled since listing.

It spent around 15 years as a private company before opting to list and did so with a golden ticket so many small caps want but lack – FDA approval. This is the all-clear to sell medical devices in the USA, the world’s largest healthcare market.

The company has just gone into a trading halt pending news of another regulatory approval.

Other recent ASX IPOs doing well included mining services stock Dynamic Drill & Blast (ASX:DDB) – up over 80 per cent since listing – and organic food company Forbidden Foods (ASX:FFF) which is up over 40 per cent.

But not all of them have done well. Laggards include fintech lender Plenti Group (ASX:PLT) which is down over 20 per cent and Perth supercomputing stock DUG Technology (ASX:DUG) which is down 9 per cent.

 

2020’s winners

The remaining big winners among ASX IPOs entered the bourse earlier in the year before COVID-19 hit global markets.

Software platform COSOL (ASX:COS) is head and shoulders above its peers, having more than tripled since its debut.

Three other ASX IPOs have more than doubled in gold plays – Manuka Resources (ASX:MKR) and Kaiser Reef (ASX:KAU) as well as additive manufacturer AML3D (ASX:AL3).

 

Upcoming listings

ASX IPO activity shows no signs of slowing down in the weeks ahead. According to the ASX, more than 10 companies will list by the end of October, set to raise $133.5 million between them.

Here are all of the ASX IPOs scheduled in October:

Swipe or scroll to reveal the full table. Click headings to sort.

Proposed ASX code Company Proposed Listing Date Capital Raised ($m)
ABB Aussie Broadband Limited 27-Oct-20 40
COD Coda Minerals Ltd 12-Oct-20 6.5
CCR Credit Clear Limited 27-Oct-20 15
MEG Megado Gold Limited 26-Oct-20 5
M2R Miramar Resources Limited 14-Oct-20 5
MYD MyDeal.com.au Limited 22-Oct-20 40
NGS Nutritional Growth Solutions Ltd 26-Oct-20 6.5
PF1 Pathfinder Resources Ltd 14-Oct-20 5.5
SNG Siren Gold Limited 6-Oct-20 10

 

One is Nutritional Growth Solutions (NGS), scheduled to debut on October 25.

The company makes protein powder that has been proven to boost he height of children. It is backed by prominent biotech entrepreneur Brian Leedman.

While 2020 has been a quiet year for resources IPOs, that is set to change in coming months with a significant proportion of the remaining listees being in the resources sector.

Ethiopia-focused Megado Gold is an example – in line to debut only one day after NGS. It has already closed its deal oversubscribed, raising the maximum $6m at 20c per share.

Another is Argentine-focused Pathfinder Resources which will rise from the ashes of the now delisted Winmar Resources.

Tech investors have opportunities too including e-commerce group MyDeal.com.au and debt recovery fintech Credit Clear which raised $40 million and $15 million respectively.