IPO Watch: With a 950pc gain in 3 weeks, Kuniko is easily 2021’s top ASX listing
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Three weeks since it listed at 20 cents a share, Kuniko (ASX:KKI) now sits at just under $2 making it by far and away the best new listing the ASX has seen this year.
Kuniko is a spin off from Vulcan Energy (ASX:VUL) – holding former flagship assets of Vulcan’s when it was a base metals explorer named Koppar Resources.
Like its renewable energy and geothermal lithium toting cousin, is planning to be a “zero carbon” producer and explorer.
Kuniko is up over 900% and nobody else comes close, with the runner-up being Balkan Mining (ASX:BMM) which is up 320%.
Next is uranium play 92 Energy (ASX:92E) which in the past week has been the greatest beneficiary of the run on uranium stocks after the spike in spot prices.
Its fellow new uranium listing NexGen (ASX:NXG) has also come to life in the past fortnight although is up a more modest 40%.
As at the close of trade on September 9, there have been 108 new listings and the average gain is 26%. The number of listing in 2021 easily usurps 2020’s total of 66 but last year saw a better average return of 42%.
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There are 2 IPOs locked in for listing today and one other next week.
The first is Zoom2u (ASX:ASX:Z2U) which has a software platform connecting customers and couriers that tracks and manages deliveries.
The other is Culpeo Metals (ASX:CPO) which is a Chilean focused copper explorer. The pair are listing at 11am (AEST) and 1.30pm respectively.
Listing on Monday (at 11.30am AEST) is Legacy Minerals (ASX:LGM), a gold and base metals explorer focused on the NSW Lachlan Ford Belt.