ASX IPO debutants lose momentum

The IPO market is still buzzing heading into the new year, but investor fatigue may have set in.

Almost all listings over the last few days are now trading at or below their IPO price.

Code Name Sector IPO price Current price
AW1 American West Metals Mining 20c 14c
ROC RocketBoots Limited Tech 20c 18c
HPC Hydration Pharma Healthcare 29c 29c
PNT Panther Metals Mining 20c 18c
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The Hydration Pharmaceuticals Company (ASX:HPC)

This company sells tablet and powder hydration solution products in Canada and the US, and raised $17m at 29c a share.

At the time of writing, the stock price is trading at 29c.

Founded in Australia in 2001, the company owns a product called Hydralyte Plus, a doctor approved oral rehydration solution that helps stop headaches, fatigue, irritability and mental fog caused by dehydration.

The company says it has up to 75% less sugar and 4x more electrolytes than sports drinks.

Its target market is North America, with the Australian business and brand licensed to Care Pharmaceuticals.

HPC also sells other products including collagen boosters that it says improve skin and hair health.

RocketBoots Limited (ASX:ROC)

This company has software that captures machine learning data through the use of cameras and sensors.

It then applies these data to business optimisation and loss reduction strategies in industries such as consumer retail and banking.

Its BeeHive software is said to optimise operational challenges by giving its clients a summary of key opportunities for cost savings.

According to the prospectus, all of its software products are intellectual property (IP) protected, and include the Beehive Applications, Beehive Core, and RocketBoots Core.

ROC raised $4.25m at 20c and was last trading at 18c.

American West Metals (ASX:AW1)

American West Metals has two projects in Utah and one in Canada.

Part of the IPO capital raising was used to fund the acquisition of the West Desert project in Utah from InZinc for around US$2.5m.

That project is said to hold 16.5 million tonnes of zinc and copper.

Other assets include the Copper Warrior Project also in Utah, and Storm & Steal in Canada.

The explorer raised $12m at 20c, and the stock was last changing hands at 14c.

Panther Metals (ASX:PNT)

In the Northern Territory on the Pine Creek Oroge, Panther Metals took hold of the Annaburroo and Marrakai gold projects.

The company plans to hit its first two years hard, with a detailed plan in place for exploration work spanning its nickel and gold interests, and drills at the ready.

Initial drilling will take place at the Coglia nickel-cobalt project, where a JORC compliant exploration target of 30-50 million tonnes at 0.6-0.8% nickel and 400-600 parts per million cobalt has already been defined.

Upcoming ASX IPOs this week

Code Name Sector IPO price Capital raised IPO date
AMM Armanda Metals Miining 20c $10m 15-Dec
AVD AVD Group Tech $1 $32m 16-Dec
QAL Qualitas Ltd Real estate $2.50 $335m 16-Dec
RON Ronin Resources Mining 20c $5m 16-Dec
XPN XPON Technologies Tech 20c $12.5m 16-Dec
IPG IPD Group Tech $1.20 $40m 17-Dec
MRI My Rewards Consumer 20c $7m 17-Dec
SHA SHAPE Aust Industrial $1.96 $2m 17-Dec
WTN Winton Land Real estate $3.89 $350m 17-Dec
IMI Infinity Mining Mining 20c $10m 17-Dec
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This week we’ll see two real estate companies that raised a combined IPO capital of around $700m making their ASX debut.

Qualitas Ltd (ASX:QAL) doesn’t invest real estate per se, but instead puts money directly into the real estate loans market.

According to the prospectus, its portfolio currently comprises of Qualitas Senior Debt Fund, Qualitas Land Debt Fund and the Qualitas Mezzanine Debt Fund.

It also invested in the Arch Finance Warehouse Trust note program.

Property developer Winton Land (ASX:WTN) meanwhile specialises mainly in the retirement village sector.

In its home turf of NZ, the company has a development pipeline that includes over 7000 residential dwellings, apartment units and retirement villages.

Avada Group (ASX:AVD) is a traffic management specialist that services the civil infrastructure and maintenance markets.

The company was founded by ex-Wallaby Dan Crowley and ex-Aurizon CEO Lance Hockridge.

According to its prospectus, Avada was formed through the acquisitions of five companies – Verifact Traffic, Arid to Oasis Traffic, Platinum Traffic, D&D Traffic Management, and The Traffic Marshall.