Capital raisings: Investors upped the ante in June, resources took top spot

In June, ASX-listed companies of all sizes continued to raise capital but the small-cap sector was particularly busy.

Stocks with market capitalisations of under $100m at the time of the deal raised $274m in the last month.

This is triple March’s tally of $72.2m as COVID-19 struck most small caps, with the exception of gold explorers. It is also a spike from May’s total of $177m.

Of the June total, $162.8m came from the resources sector, after two months of health stocks raising more than their mining cousins.

Here’s a list of all ASX small and micro cap raisings completed in June (by date of securities listing on the ASX):

Swipe or scroll to reveal the full table. Click headings to sort.

Stocks in the $100-500m market cap basket have been keeping bankers busy too, raising $421.8m which was also an increase from May’s total of $311m.

Finally, the $500m+ stocks took June’s total to $3.8bn.

The biggest deals were shopping mall owner Vicinity Centres (ASX:VCX), which raised $1.2bn, and toll road operator Atlas Alteria (ASX:ALX) with a $420m raising.

The biggest small-cap deals

Of the stocks with a market cap of less than $100m, the biggest deals were done by Aeris Resources (ASX:AIS) and Titan Minerals (ASX:TTM), which raised $32.7m and $12m respectively.

Junior copper producer Aeris revealed at the start of June it was buying Queensland’s Cracow gold mine from Evolution Mining (ASX:EVN).

Titan, meanwhile, is focused on Ecuador which has become a newly resurgent destination for mining companies in recent years. Titan hopes to use proceeds to advance exploration on its two projects.

Harvest Technology (ASX:HTG) and Beston Global Foods (ASX:BFC) followed immediately behind having raised $10m each. Beston received a further cash boost via the sale of its Mt Gambier dairy farm for $40m.

The notable deals done among the $100-500m market cap stocks included a $92m placement by charter flight operator Alliance Aviation (ASX:AQZ), one of aviation’s few winners during COVID-19 due to footballers and FIFO workers needing charter flights.

Other notable deals were done by buy now, pay later stock Openpay (ASX:OPY), medical imaging play Mach7 (ASX:M7T) and betting-tech operator Betmakers (ASX:BET).

At Stockhead we tell it like it is. While Titan Minerals is a Stockhead advertiser, it did not sponsor this article.