Capital Raisings Recap: Another 103 deals and $2.68bn+ raised on the ASX in November

The ASX’s 2020 capital raising boom continued in November with investors chipping in another $2.68 billion.

According to Bloomberg this takes the ASX’s 2020 total to over $47 billion.

November saw a significant upshift in market momentum following the US Presidential election, despite COVID-19 hitting Europe and North America even harder.

The most dominant sector was financials with $1.2 billion raised. Resources came second with $432 million followed by technology with just over $300 million.

Additionally, the average deal is up 12 per cent post-completion.

Here’s a list of all ASX capital raisings completed in November

Most notable deals

$742 million of November’s ASX capital raisings came from IPOs, a higher proportion than in previous months.

Three IPOs raised above $100 million including HiPages (ASX:HPG), Universal Store (ASX:UNI) and Home Consortium’s Daily Needs REIT (ASX:HDN).

The latter was the second biggest deal, raising $300 million despite unprecedented uncertainty in the REIT sector.

The largest was a placement by Insurance Australia (ASX:IAG) which asked and received $650 million for its coffers.

2020’s biggest success story in the gold sector, De Grey (ASX:DEG), raised another $100 million early in November as it continued exploration at its Hemi prospect.

The health sector had its fair share too, with medtech stock Hydrix (ASX:HYD) and cannabis play Elixinol (ASX:EXL) both capitalising on early success and sector hype respectively.

Deals still to come

While there is only one month to go in 2020 there appears to be a pre-Christmas rush for companies seeking to raise capital.

This is manifest in the companies completing deals right now including Bega Cheese (ASX:BGA) and Galaxy Resources (ASX:GXY) which are raising $220 million and $50 million in rights issues respectively.

But additionally, there is nearly $1 billion worth of IPOs in the pipeline scheduled to list before Christmas – a run set to begin later this week.