IPO Watch: COVID-19 sell-off leaves just one survivor
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Almost none of the ASX’s 2020 listings have been left unscathed by the market panic brought on by the COVID-19 pandemic.
Stockhead’s latest set of data shows that software platform COSOL (ASX:COS) is now the only company with shares still trading above its listing price.
Emerald Clinics (ASX:EMD) is the biggest loser, sinking 80 per cent since its debut in February.
New listings often face a rough time on the market and with the massive sell-offs on the ASX, it’s not surprising that all but one of this year’s listings are now trading below their IPO prices.
Here’s a performance rundown of this year’s ASX entrants:
LISTING DATE | TICKER | NAME | OFFER SIZE | OFFER PRICE | PRICE (24 MARCH) | % RETURN |
---|---|---|---|---|---|---|
1/16/2020 | NYR | Nyrada | 9 | 0.2 | 0.12 | -40 |
1/23/2020 | HVM | Happy Valley Nutrition | 13 | 0.2 | 0.13 | -35 |
1/24/2020 | COS | COSOL | 12 | 0.2 | 0.26 | 30 |
1/31/2020 | CBE | Cobre | 10 | 0.2 | 0.087 | -57 |
12/2/2020 | EMD | Emerald Clinics | 6 | 0.2 | 0.04 | -80 |
2/14/2020 | TDY | Thedocyard | 4 | 0.2 | 0.095 | -53 |
2/14/2020 | CST | Castille Resources | 20 | 0.2 | 0.064 | -68 |
2/20/2020 | LGP | Little Green Pharma | 10 | 0.45 | 0.18 | -60 |
2/27/2020 | KAU | Kaiser Reef | 9 | 0.2 | 0.15 | -25 |
The market uncertainty has already claimed its first scalp with technology play Way 2 Vat Ltd withdrawing its $15m IPO.
There are still a number of companies on the ASX’s “pending” list but the coming weeks will be telling on whether these will go ahead or not.
Here’s a list of upcoming IPOs:
TICKER | NAME | OFFER SIZE ($) | OFFER PRICE | LISTING DATE |
---|---|---|---|---|
AL3 | AML3D | 9m | 0.2 | 26 March |
AR1 | ARMnet | 11m | 0.2 | TBA |
AT1 | Atomo Diagnostics | $30m | 0.2 | 16 April |
MHK | Metal Hawk | $5.5m | 0.2 | TBA |
TNA | Tartana Resources | $6m | 0.2 | TBA |