Capital Raisings Recap: Nearly $10 billion has already been raised in 2021
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The capital raisings boom on the ASX is continuing in 2021 with nearly $10 billion raised in the first four months of the year.
Across 325 deals, ASX companies have raised $9.878 billion in capital amidst IPOs, placements and rights issues.
While the grand total at this time last year was higher – $14.4 billion – over $4.4 billion of that figure was from three larger deals by QBE (ASX:QBE), Ramsay (ASX:RHC) and Coles (ASX:COL) all over $1 billion.
The total of 325 deals is well ahead of the 229 deals completed at this time last year.
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(Data includes deals completed up to April 28 and excludes withdrawn or pending deals)
Topping the list of ASX capital raisings in 2021 is the Bank of Queensland (ASX:BOQ) which raised over $1.3 billion between a rights issue and a placement to acquire ME Bank.
While it remains the only capital raising above $1 billion there have been a higher number of deals over $100 million in March and April than there were in January and February.
Next was stock transfer company Computershare (ASX:CPU) which raised over $800 million to buy the Wells Fargo Corporate Trust Services business.
Following them was Seven Group (ASX:SVW) which completed a $500 million placement only a couple of weeks ago to pay down debt.
A number of other deals were IPOs.
A handful of ASX companies have more then quadrupled since completing a capital raising in 2021.
One of these is Red Sky Energy (ASX:ROG) which raised capital at 0.2 cents per share and is now at 1 cent.
Red Sky shares have never looked back since a company update a month ago in which announced it had identified 10 times more net pay (economically producible hydrocarbons) than it was expecting.
Red Sky’s last update came a few weeks ago in which it reiterated it would be tested this year in conjunction with its other projects.
Another is Rent.com.au (ASX:RNT) which while only raising $2.75 million, did it from telco entreprenuer Bevan Slattery. That sent shares surging several times. Currently shares are sitting at 25 cents, more than five times prior to the deal.
As its name suggests it offers products to renters, with its signature product being a bond financing solution, but it is seeking to expand its services into products that extend the entire rental period.
In resources, one top stock is gold, nickel and platinum metals explorer Aldoro Resources (ASX:ARN) which is one of many seeking to replicate Chalice Mining’s (ASX:CHN) Julimar discovery with a project at Narndee in WA.
It is also exploring for gold at its Penny South project adjacent to Ramelius Resources’ (ASX:RMS) Penny West project in WA’s Youanmi gold mining district.
The top IPO is Perth-based telco Pentanet (ASX:5GG) which intends to expand onto the East Coast with its IPO proceeds.
It raised capital at 25 cents then tripled on debut and has continued to gain ever since. On Friday afternoon shares sat at $1.10 – 340 per cent higher.
The resources sector has completed more ASX capital raisings than any other sector in 2021 both by number and volume.
The total raised came in at just under $2.9 billion while deals totalled over 160 – almost half of the ASX’s total.
While lithium has been a hot sector and gold less so in 2021 there has been a fairly even mix of companies able to raise money from all commodities.
Next is financials with $2.26 billion – of which nearly half was followed by tech (including telecommunications) with $1.7 billion in the coffers in 2021.
The health sector, however, only raised $374 million.