IPO Watch: The ASX IPO pipeline snakes well into January
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The ASX IPO pipeline is snaking well into 2021 and is worth nearly $800 million all up.
The IPO market began 2020 on a soft note with a handful of listings to start the year and COVID-19 virtually stopping the pipeline for two months and hitting many new listees.
But the market rally of recent weeks has seen the pipeline substantially pick up. Ten new listees joined the ASX in the past fortnight alone.
Additionally 30 more are set to list in the next six weeks.
The average ASX IPO gain has dropped to 44 per cent in the last fortnight with the mixed performance of recent IPOs.
Of last week’s new entrants, five of the seven are in positive territory:
But this week’s listees haven’t been as fortunate:
Nevertheless some IPOs from previous months have lifted their game.
A further seven stocks are sitting on gains above 100 per cent with Aussie Broadband (ASX:ABB), Caspin Resources (ASX:CPN), Native Mineral Resources (ASX:NMR) and MetalHawk (ASX:MHK) reaching this milestone in the last fortnight.
At the other end of the ASX IPO pipeline, some have never recovered from their first day or the COVID-19 crash.