IPOs were a dark place to be in Australia this year.

Only 22 of the 95 listings that Stockhead has tracked since the start of the year are in the black — and four of those couldn’t even crack double figures.

>> Scroll down to find who went up — and who went down — in 2018

But the IPOs that went right really killed it this year. These are the top 10 listings — based on how much they’re up on their offer price — that happened this year:

Adriatic Metals (ASX:ADT) – 185 per cent

The British explorer with Bosnian base metals actually had a pretty slow start to life.

But copious amounts of news and the happy discovery of precious metals, from gold to silver, made it the top IPO performer this year.

Exopharm (ASX:EX1) – 163 per cent

This is Australia’s way into the creepy-but-cool anti-ageing sector — and we’re not talking about overblown skincare regimes.

The new-look anti-ageing sector is all about manipulating your body’s proteins and genes to recover faster and — although this isn’t Exopharm’s line — live longer but remain physically younger.

They only listed in December and have been one of the few to inspire not only interest but actual participation, in a period that has been a killer for IPOs.

Elixinol Global (ASX:EXL) – 140 per cent

The hemp farmer listed in the first few days of January and entered with a bang: for a long time it was the only pot stock to be making money, and the first one to turn a profit.

But what they’ve really been waiting for is the hemp legalisation in the US — investors reckon that as soon as that gets the final presidential signature, Elixinol is going to make this year’s gains look like peanuts.

Keytone Dairy (ASX:KTD) — 80 per cent

Keytone was one of the last to jump on the milk-powder-to-China theme in the ASX, proving that investors are still keen on the concept.

The IPO did send them deep into loss-making territory but little news and a falling market have taken their toll recently.

PayGroup (ASX:PYG) – 71 per cent

It was a tortuous route to market for PayGroup but they pulled it off on their third attempt.

What started in Singapore in 2006 as a “side hustle” for the managing director’s wife to run has turned into a flourishing payroll business in Asia and Australia.

But it’s still ended slightly down on its debut day: the stock ran 74 per cent on its first day on the ASX.

Readcloud (ASX:RCL) – 50 per cent

This company was a favourite of investors — especially when it hit a massive 62c in August.

But while they’re trailing closer to annual lows than highs, they’re still up enough to their IPO issue price to be the number six best performing debut of the year.

Security Matters (ASX:SMX) – 50 per cent

Security Matters rolled into at number seven for the year.

It is one of only 12 companies in Intel’s Ingenuity Partner Program, which will allow it to safeguard and enhance its products through direct collaboration with Excel.

Clearvue Technologies (ASX:CPV) – 48 per cent

Everyone loves Clearvue and the company’s solar-power making windows.

They loved it a bit less in September after it revealed a loss blowout caused by rising costs, however.

The stock has recovered enough to make it a top 10 IPO performer, at least.

Calix (ASX:CXL) – 37 per cent

Your sewer stinks, so who you gonna call? These guys.

The drain de-odouriser launched itself at the ASX with a process called “Calix Flash Calcination” which produces a porous product that can be used in waste water management and aquaculture projects.

Alliance Mineral Assets (ASX:A40) – 30 per cent

The only other resource stock to make into the top 10 were these guys, a company that listed on Wednesday with a lovely day-one price rise.

Since we ran the numbers the stock has dipped to a less flattering 23c.

CompanyCodeOffer price $Price Dec 19 $% change since listing
Adriatic MetalsADT0.20.571.85
Exopharm EX1 0.20.531.63
Elixinol Global EXL 12.401.4
Keytone Dairy Corp KTD 0.20.360.8
PayGroup PYG 0.50.860.71
Readcloud RCL 0.20.300.5
Security Matters SMX 0.20.300.5
Clearvue Technologies CPV 0.20.300.48
Calix CXL 0.530.730.37
Alliance Mineral AssetsA400.20.260.3
EMvision Medical Devices EMV 0.250.310.22
Eagle Mountain Mining EM2
Constellation Resources CR1
Yandal Resources YRL
Qualitas Real Estate Income FuQRI 1.61.760.1
Tempus Resources TMR
Ardent Leisure GroupALG1.491.580.06
Star Combo Pharma S66 0.50.530.05
Saturn Metals STN
Heartland Group HGH1.41.420.01
Hearts and Minds Investments LHM1 2.52.530.01
Duxton Broadacre Farms DBF 1.51.500
Gryphon Capital Income TrustGCI 22.000
Jayride Group JAY 0.50.500
NB Global Corporate Income TruNBI 22.000
Tribeca Global Natural ResourcTGF 2.52.490
Healthia HLA 10.98-0.02
Identitii ID8 0.750.70-0.07
Norwest Minerals NWM 0.20.19-0.08
Althea Group Holdings AGH 0.20.19-0.08
Primero Group PGX 0.40.37-0.08
RMA Global RMY 0.250.23-0.08
Redcape Hotel GroupRDC 1.131.04-0.08
WAM Global WGB 2.21.99-0.1
WCM Quality Global Growth FundWCMQ 54.51-0.1
Kingwest Resources KWR 0.20.18-0.1
Trimantium GrowthOps TGO 10.87-0.13
Pivotal Systems CorpPVS1.861.60-0.14
HeraMED HMD 0.20.17-0.15
Koppar Resources KRX 0.20.17-0.15
Caprice Resources CRS 0.20.17-0.15
1414 Degrees 14D 0.350.30-0.16
Straker TranslationsSTG1.511.25-0.17
Vintage Energy VEN 0.20.17-0.18
Wiseway Group WWG 0.50.40-0.2
NeuroScientific BiopharmaceutiNSB 0.20.16-0.23
Data Exchange Network /TheDXN 0.20.16-0.23
Galileo Mining GAL 0.20.15-0.25
Stealth Global Holdings SGI 0.20.15-0.25
Viva Energy Group VEA 2.51.87-0.25
Coronado Global Resources IncCRN 42.96-0.26
Tymlez Group TYM 0.220.16-0.27
Aldoro Resources ARN 0.20.15-0.28
Angel Seafood Holdings AS1 0.20.14-0.3
Golden State Mining GSM 0.20.14-0.3
QEM QEM 0.20.14-0.3
Nickel Mines NIC 0.350.24-0.31
Black Cat Syndicate BC8 0.20.14-0.33
Moho Resources NLMOH 0.20.14-0.33
Euro MagneseEMN0.260.18-0.33
L1 Long Short Fund LSF 21.34-0.33
Evans Dixon ED1 2.51.67-0.33
Jupiter Mines JMS 0.40.27-0.34
Shekel BrainweighSBW0.350.23-0.34
Archtis AR9 0.20.13-0.38
Mako Gold MKG 0.20.12-0.43
Wide Open Agriculture WOA 0.20.12-0.43
Accelerate Resources AX8 0.20.11-0.45
Microequities Asset ManagementMAM 0.80.44-0.46
Kleos SpaceKSS0.20.11-0.48
Black Dragon GoldBDG0.20.10-0.5
Sultan Resources SLZ 0.20.10-0.53
Carbonxt Group CG1 0.70.33-0.54
Nanoveu NVU 0.20.09-0.55
Cygnus Gold CY5 0.20.09-0.56
Tao CommoditiesTAO0.20.09-0.58
Blackearth Minerals NLBEM 0.20.09-0.58
Rafaella Resources RFR 0.20.08-0.59
Woomera MiningWML0.20.08-0.6
Intellihr HoldingsIHR0.30.12-0.6
Simble Solutions SIS 0.20.08-0.62
WhiteHawk WHK 0.20.08-0.63
Vonex VN8 0.20.07-0.64
Bounty Mining B2Y 0.350.12-0.67
Tietto MineralsTIE0.20.07-0.68
Coolgardie Minerals CM1 0.20.06-0.7
Smiles Inclusive SIL 10.30-0.71
Marley SpoonMMM1.420.40-0.72
Raiz Invest RZI 1.80.50-0.72
Podium Minerals POD 0.20.06-0.73
Frontier DiamondsFDX0.20.03-0.86