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