Although May saw a gradual easing of COVID-19 restrictions, the economic recovery is still some way off and ASX companies kept rattling the tin.

Last month stocks with market capitalisations of under $100m raised $177m, a modest 5 per cent increase over April’s $168m tally.

Once again, the health sector beat the resources sector but the gap narrowed significantly. Health micro-caps raised $54m while resources stocks raised $49m.

Due to the ASX’s continued rise in May, only 10 per cent of micro-caps that raised capital are trading lower than before their fundraising.

Here’s a list of all ASX small and micro cap raisings completed in May (by date of securities listing on the ASX):

Swipe or scroll to reveal the full table. Click headings to sort.

Date Code Company Offer Size (M) Offer Type Industry Sector Offer Price Last Price Offer To Date Market Cap at Offer (M)
05/26/2020 ORR OreCorp Ltd 13.5 PLACEMENT Resources 0.3 0.37 17 95
05/04/2020 MGV Musgrave Minerals Ltd 6.0 PLACEMENT Resources 0.105 0.15 38 49
05/15/2020 SGQ St George Mining Ltd 3.6 PLACEMENT Resources 0.08 0.1 31 37
05/01/2020 GAL Galileo Mining Ltd 5.0 PLACEMENT Resources 0.22 0.23 5 31
05/25/2020 HCH Hot Chili Ltd 5.0 PLACEMENT Resources 0.015 0.014 -3 31
05/07/2020 APC Australian Potash Ltd 2.0 PLACEMENT Resources 0.05 0.052 4 22
05/28/2020 EGR Ecograf Ltd 1.6 PLACEMENT Resources 0.065 0.065 6 21
05/14/2020 GSN Great Southern Mining Ltd 3.2 PLACEMENT Resources 0.045 0.09 100 18
05/06/2020 NWC New World Resources Ltd 1.3 PLACEMENT Resources 0.011 0.0125 9 11
05/11/2020 ARE Argont Resources NL 1.3 PLACEMENT Resources 0.0033 0.007 112 6
05/20/2020 GNM Great Northern Minerals Ltd 1.6 PLACEMENT Resources 0.006 0.013 83 4
05/11/2020 DDD 3D Resources Ltd 2.2 PLACEMENT Resources 0.0013 0.0035 131 4
05/27/2020 SPQ Superior Resources Ltd 0.3 PLACEMENT Resources 0.003 0.005 67 3
05/01/2020 JAN Janison Education Group Ltd 7.0 PLACEMENT Communications 0.25 0.295 20 52
05/07/2020 CLT Cellnet Group Ltd 5.1 RIGHTS Communications 0.03 0.045 50 7
05/28/2020 IXC Invex Therapeutics Ltd 16.3 PLACEMENT Consumer, Non-cyclical 1.3 1.41 12 88
05/15/2020 KTD Keytone Dairy Corp Ltd 12.5 PLACEMENT Consumer, Non-cyclical 0.31 0.285 -3 79
05/15/2020 QFE QuickFee Ltd 6.9 PLACEMENT Consumer, Non-cyclical 0.21 0.32 48 39
05/14/2020 WNB Wellness and Beauty Solutions 1.3 PLACEMENT Consumer, Non-cyclical 0.008 0.008 0 10
05/11/2020 RE1 Resa Group Ltd 2.5 PLACEMENT Consumer, Non-cyclical 0.02 0.02 0 3
05/28/2020 XAM Xanadu Mines Ltd 1.1 PLACEMENT Energy 0.033 0.04 27 27
05/13/2020 EXR Elixir Energy Ltd 1.6 PLACEMENT Energy 0.02 0.026 35 12
05/07/2020 VEN Vintage Energy Ltd 1.9 PLACEMENT Energy 0.036 0.05 39 11
05/13/2020 CWZ Cashwerkz Ltd 3.3 PLACEMENT Financial 0.13 0.14 8 26
05/06/2020 OSL OncoSil Medical Ltd 3.1 RIGHTS Health 0.09 0.1025 14 87
05/07/2020 OVN Oventus Medical Ltd 4.6 PLACEMENT Health 0.24 0.28 21 87
05/08/2020 OSL OncoSil Medical Ltd 14.0 PLACEMENT Health 0.09 0.1025 14 70
05/05/2020 IMM Immutep Ltd 12.0 PLACEMENT Health 0.125 0.19 48 61
05/05/2020 EXL Elixinol Global Ltd 11.0 RIGHTS Health 0.2 0.265 40 43
05/01/2020 MXC MGC Pharmaceuticals Ltd 3.5 PLACEMENT Health 0.027 0.023 -11 43
05/25/2020 ICR Intelicare Holdings Ltd 5.5 IPO Health 0.2 0.41 108 15
05/20/2020 AMS Atomos Ltd 10.9 PLACEMENT Industrial 0.45 0.555 27 95
05/08/2020 GMV G Medical Innovations Holdings 6.0 PLACEMENT Technology 0.07 0.063 -4 46
05/06/2020 FZO Family Zone Cyber Safety Ltd 6.4 PLACEMENT Technology 0.12 0.175 38 35
05/08/2020 KNM KNeoMedia Ltd 2.5 PLACEMENT Technology 0.017 0.017 0 15
05/19/2020 AR9 Archtis Ltd 1.5 PLACEMENT Technology 0.055 0.056 2 7
05/07/2020 AO1 AssetOwl Ltd 0.6 PLACEMENT Technology 0.008 0.009 12 3
05/05/2020 AO1 AssetOwl Ltd 0.9 RIGHTS Technology 0.008 0.009 12 3

 

Meanwhile, the small caps with market capitalisations between $100m and $500m raised $311m, but there were only a handful of deals done.

Date Code Company Offer Size (M) Offer Type Industry Sector Offer Price Last Price Offer To Date Market Cap at Offer (M)
05/01/2020 DEG De Grey Mining Ltd 31.2 PLACEMENT Resources 0.28 0.4075 45 474
05/13/2020 RED Red 5 Ltd 125.0 PLACEMENT Resources 0.18 0.275 58 351
05/20/2020 CHN Chalice Gold Mines Ltd 30.1 PLACEMENT Resources 1.05 1.02 -11 319
05/13/2020 AFG Australian Finance Group Ltd 45.1 RIGHTS Financial 1.15 1.565 43 295
05/25/2020 AFG Australian Finance Group Ltd 14.9 PLACEMENT Financial 1.15 1.565 43 295
05/28/2020 BTH Bigtincan Holdings Ltd 35.0 PLACEMENT Technology 0.67 0.77 17 242
05/07/2020 SPT Splitit Ltd 16.0 PLACEMENT Financial 0.41 0.475 17 144
05/26/2020 BYE Byron Energy Ltd 13.8 PLACEMENT Energy 0.13 0.145 8 119

 

The biggest deals

The sole IPO of the month was aged care-focused software-as-a-service (SaaS) stock InteliCare (ASX:ICR).

It entered the ASX after raising $5.5m at 20c per share and finished the week double its listing price.

Some of 2020’s best exploration success stories also raised capital, including De Grey Mining (ASX:DEG) and Chalice Gold Mines (ASX:CHN), with the pair raising $30m each.

Chalice received $75m in applications in the heavily oversubscribed raising. Director Timothy Goyder ended up selling $10m of his own shares to cater for some institutions that missed out.

Other junior explorers seeking to follow in their footsteps also raised capital. One was Golden State Mining (ASX:GSM), which has a project just 13km from De Grey’s Hemi discovery.

Cash was also raised by Great Southern Mining (ASX:GSN), which has a West Australian project near Laverton where 77,000oz of gold was mined in the late 1930s before the operation closed during World War Two.

Among health stocks Invex Therapeutics (ASX:IXC) was the biggest deal raising $26m.

Invex released its deal just two days after announcing its anti Idiopathic Intracranial Hypertension (IIH) drug had passed a phase two clinical trial. It intends to use the majority of the proceeds for a phase three clinical trial.

Anti-cancer biotech Oncosil (ASX:OSL) raised $3m in a rights issue and $14m from a placement.

Buy now pay, later stock Splitit (ASX:SPT) raised $16m in a placement. It too announced hot demand for its shares and said it continued to see strong merchant sales growth despite the pandemic.

At Stockhead, we tell it like it is. While Golden State Mining, Great Southern Mining and De Grey Mining are Stockhead advertisers, they did not sponsor this article.