Health beats miners to more investor cash in April
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It’s still a relatively difficult market to raise capital in, particularly at the junior end, but there are some that have convinced investors to part with their hard earned cash. We run through just which small and micro caps successfully topped up their coffers in April.
April was a radically different month to March. March saw the market plunge, while April saw the market claw back some of those losses.
Since March 23 the ASX has gained just over 20 per cent.
But this month’s small and micro cap leaders on the capital raising front were in the health space.
Companies with a market capitalisation below $100m at the time of the offer raised $77.5m, while the mining sector raised $61.7..
All up $168m was raised in April
Here’s a list of all ASX small and micro cap raisings completed in April (by date of securities listing on the ASX):
Swipe or scroll to reveal the full table. Click headings to sort.
Mining accounted for $158m, and the most notable deal was the $68.5m recapitalisation of Dacian Gold (ASX:DCN).
After a six-week IPO drought there were two new listings in April.
The biggest mining stock raising money in April was gold junior Blackham Resources (ASX:BLK), which raised another $26m in a rights issue after completing a placement in March worth the same amount.