IPO Watch: Who’s lifted off (and who hasn’t) in the last fortnight
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It’s been a huge fortnight for IPO activity on the ASX.
Aussie Broadband (ASX:ABB) has been the top-performing ASX initial public offering over the past two weeks, while closely watched Adore Beauty (ASX:ABY) shares were trading below their IPO price on Tuesday.
Aussie Broadband shares were trading at $1.895 on Tuesday afternoon, up 89.5 per cent from its $1 IPO price. The Victoria-based company serves 300,000 residential, small business and enterprise customers.
Adore Beauty shares meanwhile were trading at $5.72, down 15 per cent from Friday’s IPO.
Started out of a garage in Melbourne in 2000, the beauty company today has 230 brands, 11,000 products and over 590,000 active customers.
Yesterday, fintech company Credit Clear (ASX:CCR) made a strong debut on the ASX through an IPO with its share price jumping 31 per cent to 46c from an issue price of 35c.
The company’s IPO has raised $15m, giving it an initial market value of $79m on listing.
Credit Clear is a receivables management solutions provider, which means it works for business clients to collect unpaid money owed by their customers.
Another top performer is Miramar Resources (ASX:M2R), which joined the ASX boards on Thursday. Its shares were trading at 36.75c, up 84 per cent from its 20c IPO.
The WA junior gold explorer’s immediate focus is on its 80 per-cent-owned Gidji joint venture 15km north of Kalgoorlie where drilling will test several targets.
Respirator company CleanSpace (ASX:CSX) shares were also performing admirably, up 57 per cent following its $131 million IPO on Friday.
Megado Gold (ASX:MEG) shares were trading at 24c on Tuesday, up 20 per cent from its 20c IPO that raised $6 million in capital to fund exploration in Ethiopia.
The company aims to start drilling at its Babicho project in the south of the East African country in November to target a 2km-long gold anomaly in outcropping quartz veins.
Shares in ecommerce company MyDeal (ASX:MYD) were trading at $1.35 on Tuesday, up 35 per cent from its $1 IPO price, although down from their $1.85 debut.
The company reported $56.7 million in sales and 669,897 active customers in the three months to September 30.
Lastly, Zebit (ASX:ZBT) is the worst-performing IPO in the past fortnight. Its shares were down 37.6 per cent on Tuesday from their $1.58 IPO price.
The company is an online retailer with its own buy now pay later solution, targeting US consumers considered “credit challenged”.
Israeli protein powder maker Nutritional Growth Solutions is expected to list on the ASX on Friday.
The company manufactures a unique formula-based protein powder for children aged three to nine years that is consumed in beverages or smoothies and is expected to have a market cap on listing of $25m.
Oyster producer and seller East33 has kicked off a $32 million IPO campaign that will culminate in a December 3 listing.
The company specialises in Sydney Rock Oysters (SROs), a unique species only found in Australia.
Also Aurumin is raising up to $7 million to fund its WA gold exploration projects, with a listing on the ASX scheduled to place at the end of November.
The company owns two historical gold producers and has a well credentialled board and management team, Stockhead has reported.