ASX Capital Raisings Recap: September’s $2.3bn takes 2020 to nearly $40b
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ASX Capital raisings in September 2020 totalled $2.28bn continuing the solid year for ASX-focused investment banks.
While September was less than half of August’s total, 2020’s total continues to accelerate surpassing $39.7bn in the first three quarters of 2020.
The resources sector raised $650m — more than any other sector — and accounted for more than half the number of capital raisings done.
Consumer stocks were close behind, raising $587m, although $353m of this came from PointsBet (ASX:PBH).
September’s biggest deal came from financial giant IOOF (ASX:IFL), which completed a $452m placement.
Here’s a list of all ASX capital raisings completed in September (by date of securities listing on the ASX):
Swipe or scroll to reveal the full table. Click headings to sort.
While gold has particularly run hot, it did not have the dominance among the ASX capital raisings list seen in months gone by.
The biggest resources deals included a $126m placement from Orocobre (ASX:ORE) — an Argentina-focused lithium producer.
While battery metals sentiment ran cold for many months before COVID-19 there has been a more positive shift in recent months. This has spread across the broader industry as electric vehicle giant Tesla searches for battery metal suppliers.
Orocobre closed out August with news it has signed an MOU with Prime Planet Energy & Solutions (a joint venture between Toyota and Panasonic). Orocobre will supply 30,000 tonnes of lithium equivalent per year by 2025 with initial deliveries starting next year.
Another battery metals player that raised capital was Vietnam-focused nickel play Blackstone Minerals (ASX:BSX), which raised $18m.
The two biggest deals in the tech sector raised nearly $160m collectively.
At the top of the list was the IPO of the ASX’s latest buy now, pay later stock Laybuy (ASX:LBY).
Closely behind was a $77m placement conducted by communication automation software stock Whispir (ASX:WSP).
Among consumer stocks that completed capital raisings, the majority were food and beverage companies.