These are the top performing equity capital market firms this year
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In the three months since Stockhead last looked at the performance of equity capital market firms – the market has seen several more deals and a couple of acquisitions.
In June, Shaw and Partners revealed it was acquiring DJ Carmichael and Canaccord announced it would acquire Patersons.
The IPO market picked up from May, both through new floats that boomed as well as floats that began to seriously take off from then on. Among IPOs, placements and rights issues in the small cap space the average post-deal performance was a gain of nearly 24 per cent.
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Yet even though 111 firms have done at least one deal, 80 per cent was shared between just 20 firms.
The top deal has been the listing of Regal Fund’s Management’s listed fund which was managed by several firms including Bell Potter, Taylor Collison and Patersons. But these firms and others have all had their fair share of deals.
The top rainmakers
Bell Potter remained at the top of the list. Among its top deals were betting agency PointsBet (ASX:PBH) and business to business lender QuickFee (ASX:QFE). While both firms have stagnated in recent days, both are still trading over 50 per cent above their listing prices.
But the top IPO is still NBN-alternative Uniti Wireless (ASX:UWL), which sits more than six times higher than when it listed.
Second was Morgans. Among its deals were a $40m raise for Splitit (ASX:SPT), as well as raises for Otto Energy (ASX:OEL), Intellihr (ASX:IHR) and Atomos (ASX:AMS).
Third was Taylor Collison, which handled deals for Ampalia Therapeutics (ASX:ATX) and Liontown Resources (ASX:LTR). The lithium explorer is one of this year’s largest gainers, up over 400 per cent off the back of spectacular drilling results.
Next was Ord Minnett whose top deals include software stock Whispir (ASX:WSP) and Victory Offices (ASX:VIC).
Patersons was another player with deals including Arafura Resources (ASX:ARU), Xanadu Mines (ASX:XAM) and the IPO of Next Science (ASX:NXS).
| Manager | Volume ($M) | Issues | Market Share (%) | Mkt Share Difference |
|---|---|---|---|---|
| Bell Potter | 621.44 | 40 | 17.21% | 9.27% |
| Morgans | 363.11 | 19 | 10.06% | 1.29% |
| Taylor Collison Ltd | 238.62 | 18 | 6.61% | 2.97% |
| Ord Minnett Ltd | 216.80 | 7 | 6.01% | 3.10% |
| Wilsons | 193.43 | 6 | 5.36% | 2.84% |
| CBA | 146.67 | 1 | 4.06% | 4.06% |
| Canaccord Genuity | 137.35 | 11 | 3.80% | 0.21% |
| Shaw & Partners Ltd | 127.04 | 7 | 3.52% | 2.17% |
| Patersons Securities Ltd | 105.34 | 30 | 2.92% | -0.29% |
| Argonaut Ltd | 98.63 | 9 | 2.73% | -0.40% |
| Euroz Securities | 93.28 | 9 | 2.58% | -2.09% |
| Macquarie | 93.08 | 3 | 2.58% | -5.49% |
| Hartleys Ltd | 67.59 | 19 | 1.87% | -2.65% |
| Evans Dixon Ltd | 65.99 | 2 | 1.83% | 1.83% |
| PAC Partners Pty Ltd | 63.93 | 12 | 1.77% | 0.72% |
| Petra Capital Pty Ltd | 56.95 | 7 | 1.58% | -0.39% |
| Credit Suisse | 55.80 | 1 | 1.55% | 0.46% |
| Blue Ocean Equities | 51.32 | 9 | 1.42% | 0.57% |
| JP Morgan | 40.72 | 1 | 1.13% | -4.30% |
| Bridge Street Capital | 40.31 | 7 | 1.12% | 1.04% |
DJ-Shaw tie up pays off
We observed that Shaw & Partners’ market share had declined with fewer deals. It has done deals for Piedmont Lithium (ASX:PLL) and med tech company PKS (ASX:PKS).
Prior to news of the acquisition, DJ Carmichael did deals for Hot Chili (ASX:HCH), Hammer Metals (ASX:HMX) and Corizon Resources (ASX:CIZ).
