IPO Wrap: Kuniko takes top IPO spot with 300pc return, as explorers dominate listings in August

There has been 103 IPO listings this year on the ASX and in August alone, seven companies made their ASX debut.

Meanwhile resource explorers have been the theme in August, with a few more listings due before the month is out.

Yellow highlights are stocks that listed in August.

Here’s a summary of the IPOs that listed this month:

Vulcan Energy’s (ASX:VUL) spin-off, Kuniko (ASX:KNI), stormed onto the ASX boards on Tuesday, with the share price closing the first day a remarkable 325% above its 20c IPO offer price.

The Scandinavian base metals explorer has some of the flagship assets held by Vulcan, and is planning to be a “zero carbon” producer and explorer.

Its projects are strategically located in Norway, the world’s fastest adopter of electric vehicles. As many as 74% of Norway’s new light vehicle sales were electric last year.

Panterra Minerals (ASX:PFE) has gained 75% since ringing the ASX bell on August 5.

The explorer brings to market a suite of highly prospective assets highlighted by the Yampi iron ore project in WA’s Kimberley.

That project sits 149km north of Derby, about as close to water as you can be in that part of the world without leaving mainland Australia – a massive plus when it comes to shipping for Pantera’s target DSO operation.

The project’s geological host, the Buccaneer Archipelago, is already home to some high-grade iron projects of serious clout in Mt Gibson Iron’s Koolan Island project, and Pluton Resources’ Cockatoo Island project.

Cannon Resources (ASX:CNR) was another debutant that didn’t disappoint, having risen by 50% since its IPO listing in early August.

Cannon is a mineral explorer that holds a 100% interest in its Fisher East project which comprises of 11 exploration licences in Western Australia. It’s also is a subsidiary of Rox Resources Limited (ASX:RXL).

Gold 50 (ASX:G50) was another star performer, having risen by 25% from its IPO price.

G50 is a precious-metals exploration company with projects in Arizona and Nevada.

Both states are two of the most interesting mining regions in the US – with Arizona being the leading copper-producing state and Nevada being rich in gold. So far, G50 has produced a total of over 225 million ounces of gold.

Best ASX IPOs for the year

In terms of stock price returns, this week’s listing of Kuniko mentioned previously has turned out to be the best of the year.

Other notable IPO performers include Australian Rare Earths (ASX:AR3), which has returned 280%.

AR3 is focused on magnet rare earths at their Koppamurra Project in Australia.  The company raised $12m in the IPO round for a listing price of 30c but is now trading at $1.21.

Bluebet (ASX:BBT) has risen around 150% since its IPO in July. The company is currently eyeing the US sports betting market, which is expected to be the biggest in the world as each state deregulates.

Pentanet (ASX:5GG) has continued its good form, rising by more than 150% since listing.

Despite its ticker code, the company is not involved in rolling out a 5G network in Australia.  The business revolves around fixed work connections, with gaming being used to create awareness and attract customers to its network.
 

Notable upcoming IPOs