IPO Watch: The ASX family has expanded rapidly – and there are 10 more to come
IPO Watch
IPO Watch
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 |
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.
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).
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.
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.