Today was one of the busiest days for IPOs with ASX welcoming 6 companies and Stockhead has recapped how each of them performed.

More than 60 new companies listed on the ASX in the first half of the financial year and the pipeline shows no signs of slowing down.

The growth in equity markets and market opportunities made possible by COVID-19 has led to a rush of companies seeking to go public or if already public raising capital.

While today was not the first day in 2021 there were multiple listings, 6 is a record for 2021.


Here’s how all new ASX IPOs performed today…

Code Company IPO price Price after listing % performance Market Cap
CNQ Clean Teq 0.55 0.55 TBD
BBT Bluebet 1.14 1.89 66% $228M
29M 29Metals 2 1.97 -1.5% $951M
LDR Lode Resources 0.2 0.135 -33% $7.2M
NXG NexGen Energy 5.60 6.32 13% $2.2M
TBN Tamboran Resources 0.4 0.38 -5% $169.0M
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Bluebet was the best performer

The ASX IPO that performed the best today was BlueBet (ASX:BBT) an online wagering platform which rose 62 per cent on its ASX debut.

It was only founded in 2015 but is hoping to follow in the footsteps of PointsBet (ASX:PBH) in entering the US market.

It raised $80 million at $1.14 per share and rose to over $1.80 per share upon its listing.

Bluebet (ASX:BBT) share price chart


Bluebet was the second in line to list today following Clean TeQ Water (ASX:CNQ), which is a water treatment and provider of resource recovery solutions de-merged from Sunrise Energy Metals which has a nickel-cobalt-scandium project in NSW.

The company did not raise new capital but shareholders in Sunrise received one Clean TeQ share for every two Sunrise shares held.


How the biggest new resources listing in a decade performed

The next two listings today had a resources flavour.

The biggest of these, listing at 12pm, was copper miner 29Metals (ASX:29M) which has a market cap of nearly $1 billion and is one of the biggest resources IPOs in nearly a decade.

It has two copper mines in Queensland with reserves totalling over 1 million tonnes of copper equivalent as well as a mine in Chile.

The company is chaired by resources industry veteran Owen Hegarty who led copper company Oxiana to a merger with Zinifex to form Oz Minerals (ASX:OZL) and also served a stint as Managing Director at Rio Tinto (ASX:RIO).

Following 29Metals half an hour later, was a more junior resources company in Lode Resources (ASX:LDR).

The gold, copper and silver explorer has projects in the New England region of New South Wales which has been vastly underexplored compared to other areas of the state, but has begun to attract big names such as Newmont.

Lode Resources performed the worst of today’s ASX IPOs dropping over 30 per cent.

29Metals (ASX:29M) and Lode Resources (ASX:LDR) share price chart


How the latest uranium and gas ASX IPOs performed

The other two listings today were energy plays.

One was uranium explorer and developer NexGen Energy (ASX:NXG) which had better luck, gaining 16 per cent.

It is already listed in Canada (on Toronto’s TSX) and has a project in the Saskatchewan region – the Rook I project.

NexGen has 32 claims totalling 35,065 hectares, and hosts probable mineral reserves of 4,575,000 tonnes grading 2.37 per cent uranium and containing 239.6 million lbs.

The company raised a modest $2 million to come down under and is the second uranium IPO this year following several years without new listings.

Rounding out today’s list is gas company. Tamboran Resources (ASX:TBA).

Tamboran is focused on the Northern Territory, a region picked by the federal government as key to driving a gas-led reduction in Australia’s emissions.

Its shares fell 5 per cent upon debut.

Nex Gen Energy (ASX:NXG) and Tamboran (ASX:TBN) share price chart