IPO Watch: These companies are making a late charge up the winners’ list
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In the past few weeks the ASX IPO winners’ list for 2021 has seen some shifts once again.
The Omicron variant wreaked havoc on markets in the last fortnight resulting in many of the top winners to come back to the pack.
While Kuniko (ASX:KNI) is still on top it is “only” up 562% whereas earlier in the year it was nearly a 10-bagger.
In second place is brain-focused biotech, Argenica Therapeutics (ASX:AGN). It has been a dark horse since listing in the middle of the year but has taken off in recent weeks after positive pre-clinical data and the obtaining of a US patent.
There are a handful of companies that’ve held their ground on 100%+ gains but have been overshadowed by greater winners – until now.
One example is chemical company DGL (ASX:DGL), which has been a fund managers’ favourite in light of the speed at which it has deployed capital post-IPO, and being helmed by a successful founder.
Another is Camplify (ASX:CHL), a campervan and motorhome sharing community which is on a gain of over 150% since its IPO. And while many resources stocks that topped the list earlier this year have come back to the pack, nickel explorer Cannon Resources (ASX:CNR) is still sitting on a 163% gain.
At the other end of the spectrum, many companies which were already laggards fell even more.
Last time we checked Hiremii (ASX:HMI) had “only” lost ~50% since listing and now it has shed two-thirds of its listing.
All up, just over 170 companies have listed as at December 9 and the average performance is a gain of 15%.
Swipe or scroll to reveal full table. Click headings to sort. Best viewed on a laptop.
If the ASX’s upcoming listings page is any guide, it looks like the ASX will fall short of 200 IPOs for 2021… but it will come close.
There is a reasonable pipeline heading into Christmas and also into January and February.
With the lagging of My Food Bag (ASX:MFB) and Youfoodz (ASX:YFZ) since listing (and the latter company giving up the ghost less than a year in with a takeover offer at a heavy discount since listing) you’d think food delivery companies wouldn’t be keen to list.
But My Foodie Box will join the bourse on January 7, raising $6 million which is far a more modest amount of capital compared to the other two companies.
A similar industry that’s had difficulty has been consumer rewards with Cashrewards (ASX:CRW) falling 35% from its IPO and accepting a takeover from ANZ.
But this isn’t stopping My Rewards from listing. Again, this company is raising a far more modest amount of capital compared to its predecessor – $7 million opposed to Cashrewards’ $65 million.
Some of the more predominant companies listing in the near future include salary-based BNPL company Beforepay, listing on January 17, as well as the Hydration Pharmaceuticals Company which is set to list on December 13 and sells the Hydralyte products.