The ASX has welcomed back furniture-assembler-turned-vanadium-explorer ScandiVanadium — but the reception from investors hasn’t been as warm.

The company (ASX:SVD) lit up the boards on Monday, but immediately fell below the 2.7c issue price of shares in its recent $3m capital raising.

ScandiVanadium closed its first session down more than 11 per cent at 2.4c, with nearly 13 million shares changing hands.

The stock slipped a further 8.3 per cent on Tuesday to an intra-day low of 2.2c on the exchange of another 5.1 million shares. It ended its second trading day at 2.3c.

ScandiVanadium rose out of the failed online furniture assembly platform business AssembleBay, but the company has reskinned itself a number of times over the years.

It was biofuels business Agri Energy up until 2011 before it acquired oil and gas exploration assets and became Sirocco Energy.

That became AssembleBay (ASX:ASY) in 2016, which threw in the towel in December 2017.

The company has since picked up a vanadium project in Sweden called “Skåne”.

ScandiVanadium, which plans to kick off a maiden drilling program in early 2019, wants to take advantage of the expected growth in demand for vanadium used in vanadium redox flow battery (VRFB) applications.

Vanadium Stocks on the ASX: everything you need to know >>>

Based on very limited historic exploration, the company has estimated an exploration target of 610 million to 1.2 billion tonnes at an average grade of 0.5 per cent to 0.8 per cent vanadium pentoxide.

Holding out hope for a pre-Christmas debut

There are still a few IPOs and re-listings to get across the line before the end of the year.

Norwest Minerals is hoping to make its debut this week after closing its $6.6m IPO.

Other companies penned in for this week include coking coal play 3G Coal, gold explorer Expose Resources, therapeutic goods company Fiji Kava, software provider AXS Group, and precious and base metals explorer XS Resources.

Here’s a list of upcoming IPOs:

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

Company ASX code IPO status Focus Fund raising Issue price
3G Coal 3GC Offer open Oct 3 to Nov 9; due to list Nov 30 Coking coal $6m 20c
Alliance Mineral Assets A40 Due to list Dec 5 Lithium - 20.5c
AMD Resources ADM Cancelled Gold, silver $22m 50c
Andes Resources - Undecided, possibly April-May 2019 Gold $3-5m -
Awati Resources AWA Cancelled Gold $4.5-5.5m 20c
AXS Group AXS Due to list Nov 28 Software provider to the finance, insurance and funds sector $7m 25c
Candy Club - In pre-IPO rounds; considering float Subscription confectionary - -
Canterbury Resources CBY Listing date extended to Dec 11 Copper, gold $7.8m 30c
Caprice Resources CRS TBA Gold, base metals $4.5m 20c
Carnaby Resources - Prospectus not yet issued Gold - -
CatchGroup Postponed Ecommerce $100m+ -
Centaur Resources CR3 Cancelled Lithium and other battery metals $15m 20c
China Track CTC Postponed, was due to list Jun 11 Bulldozer parts $32-40m 80c
Cowan Lithium COW Cancelled; Was a planned spin-out from Tawana Resources Lithium $6-8m 20c
EcoMag - Cancelled Magnesium $3-5m 20c
Eden Health ETK Cancelled in March Kiwi fruit-focused AgTech $15.6-20m 20c
EMvision Medical Devices EMV Due to list Nov 30 Develops and commercialises medical imaging technology $6m 25c
Exopharm EX1 Offer closes Dec 4; Due to list Dec 19 Biopharma focusing on commercialising exosomes as therapeutic agents $7m 20c
Expose Resources - Due to list Nov 29 Gold $4.5m 20c
Fiji Kava FIJ Due to list Nov 29 Therapeutic goods company $5.2m 20c
Frugl Pre-IPO funding; planning listing Grocery price comparison - -
GeoCrystal GDC Cancelled Diamonds $5-7m 20c
Haixi Pharma HXP Cancelled China-based, pain relief biotech $25-30m 50c
Hao Xian Yang - - Beef, mutton and vegetarian meat $1-1.5m 20c
HeraMED HMD Due to list Dec 4 At-home pregnancy monitoring tech start-up $6m 20c
International Cobalt Resources ICR Cancelled Cobalt, nickel, gold $5-6m 30c
IXT IXT Offer closes Dec 11; Due to list Dec 21 Services and software $7m 20c
Jobstore Group JOB Due to list Dec 5 AI-powered recruitment $6.6-8m 20c
Kaiyun Holdings KYH Was due to list Oct 29 on NSX China-focused copper and gold $3-4m 20c
Mediland Pharma Offer opens Dec 3; Due to list Jan 25 Daigou retailer $12.5-15m 20c
METALS 479 ML7 Cancelled Silver $5-7m -
Montem Resources MR1 Withdrawn Canada-focused coking coal $15-20m 50c
Nanoveu NVU TBA 3D image technology $4.5-6m 20c
Neuroscientific Biopharma NSB Cancelled Alzheimer’s $5-6m 20c
Nice-Vend Cancelled Slushy machines $7.5m 20c
Nicheliving NLH Cancelled Residential developer $5-12m 50c
Norwest Minerals NWM Spin-off from Australian Mines (ASX:AUZ); Expecting to list before the end of Nov Gold and base metals $6.6m 20c
Ocean Guardian OCG Cancelled Shark deterrent $5m -
Power Asia Limited P88 Cancelled Renewable energy $9m 20c
Prospa PGL Postponed Small business loans $146m 3.64
PVW Resources PVW Due to list Dec 12 Gold $5-7m 20c
Raptor Resources RPL TBA Gold, base metals - -
Revasum RVS Due to list Dec 6 Computer hardware $30.7m $2
Rolek Resources RLK Backdoor listing via Shaw River (ASX:SRR); Listing scheduled for late December Manganese $5m 2c
Rong Yu Pharma RY8 Postponed Traditional Chinese Medicine $14-20m 20c
Secure2Go Group S2G Postponed indefinitely Cyber security $4-5m 30c
Spreedbox SBX Cancelled Cloud computing $4.2-4.9m 20c
Stirfire SFS Cancelled Video games $5-7m 20c
Tartana Resources - IPO suspended due to ASIC query Zinc, copper $5-6m -
Torque Metals TOR Due to list Dec 12 Gold $7m 20c
Trigg Mining TMG Postponed until 2019 Potash $4-6m -
Tymlez Group TYM Due to list Dec 7 Blockchain $8m 22c
Universal Biosecurity UBL Cancelled Safe pest control $5m 20c
Viva Leisure - Postponed Gyms $26m $1
XS Resources XS1 Due to list Nov 29 Precious, base metals $4.5m 20c
Yandal Resources YRL IPO due to close Dec 3; Due to list Dec 19 Gold $5m 20c
Zaige Waste Management ZGZ Cancelled China-based recycling $14-20m 0.2