IPO Watch: Watch for 3 WA focused resources listings in a hot ASX pre-Xmas rush
Link copied to
The ASX IPO market has been hot in 2020 but the run is still not over.
Every year there’s a pre-Christmas rush on the ASX and this year’s lists of newcomers is one to rival last year.
The action kicks off later today with the listing of WA gold and base metals explorer Caspin Resources.
The former will intriguing to watch, being the ASX’s second kaolin stock after Suvo Strategic Minerals (ASX:SUV).
Suvo is nearly a 7-bagger since its reverse takeover in August. Its shares have particularly rallied this week since Monday’s news it was buying Imery’s kaolin mining and processing operations – the only one of its kind in Australia.
All up, nearly 30 companies will list in December, most of which will come in the first week.
There’s a surge of activity on Friday December 4, with three of the biggest IPOs this year. These include forensic software company Nuix, raising $275.6 million, construction company Maas Group which is raising just over $145 million and telehealth play Doctor Care Anywhere raising $102 million.
Other notable IPOs next week include seafood stock East 33 and ecommerce play Booktopia which are both due to list next Thursday, December 3. These companies are raising $43 million and $32 million respectively.
|Code||Company||Price||Capital Raised||Listing Date||Sector|
|CRW||Cashrewards||1.73||$65m||2-Dec||Consumer - cashback rewards|
|E33||East 33||0.2||$32.0M||3-Dec||Consumer - seafood|
|DOC||Doctor Care Anywhere||0.8||$102m||4-Dec||Health|
|MGH||Maas Group Holdings||2||$145.6M||4-Dec||Industrial|
|LV1||Live Verdure||0.2||$5.0M||8-Dec||Consumer - food|
|YFZ||Youfoodz||1.5||$70.0M||8-Dec||Consumer - food|
|CLU||Cluey||1.2||$30m||9-Dec||Consumer - edtech|
|TSI||Top Shelf||2.21||$35m||10-Dec||Consumer - beverages|
|AKO||Akora Resources||0.25||$5m||11-Dec||Resources - Iron Ore|
|SOV||Sovereign Cloud Holdings||0.75||$20.0M||14-Dec||Tech|
|BNZ||Benz Mining Corp||0.5||$2m||15-Dec||Resources|
Since we last checked in on the average IPO performance a fortnight ago, the gain has dropped from 46 per cent to 37 per cent.
While some of the blame can be credited to some earlier listees losing some ground, the past fortnight of ASX IPOs hasn’t been particularly hot.
However Universal Store Holdings (ASX:UNI) is sitting 17 per cent higher despite its listing being delayed by a day thanks to the ASX outage.
Some ASX IPOs that were far from hot on debut have lifted their game in recent days. WA cannabis cultivator Little Green Pharma (ASX:LGP) has nearly reached parity with its IPO price following a great few months for the cannabis sector.
And fragrance retailer Dusk Group (ASX:DSK) has been gradually improving too as the Christmas shopping season looms.
|Code||Company||Listing Price||Current price||%||MktCap|
|COD||Coda Minerals Ltd||0.3||0.34||13||$26.1M|
|LBY||Laybuy Group Holding||1.41||1.4||-1||$259.9M|
|LGP||Little Green Pharma||0.45||0.445||-1||$32.7M|
|PAM||Pan Asia Metals||0.2||0.15||-25||$7.1M|
|PLT||Plenti Group Limited||1.66||1.24||-25||$172.0M|
At Stockhead, we tell it like it is. While Suvo is a Stockhead advertiser, it did not sponsor this article.