“In those new listings we also have spin-offs, we have dual-listings … for example, we had Block (SQ2) at the start of the year, which dual-listed on the ASX. They’ve typically been focussed on battery metals and the decarbonisation theme,” he said. “There’re a lot of mining companies coming to market. Mr Posnett said most of this year’s IPOs had been in the materials sector. “The bottom line is inflation needs to be under control that will give confidence back to the market.” Investors are going to be a bit wary initially, but we see the market opening up a bit more broadly next year. It really takes a larger lower-risk IPO, a profitable company typically, to re-open the market in these cycles. “The last time we saw the IPO market this quiet was 2012. “Last year was a record-breaking year, so it’s coming off the back of an exceptional 2021 calendar year. “We‘ve had geopolitical issues, inflationary issues this year, and the IPO market globally has just been very challenged,” he said. The total figure of 104 IPOs on the ASX was well below the five-year average of 145 in a calendar year.ĪSX General Manager of Listings James Posnett said the macro-economic climate in 2022 had been “extremely challenging” for IPO activity. Shares have since been trading lower than the IPO price, sitting at 49 cents at market close on December 20, when its market cap sat at $587 million. This year, the largest IPO by value was Mali lithium play Leo Lithium (LLL), which raised $100 million with 70 cent shares and debuted with a market cap of $691 million. The total amount of IPO capital raised this year was $1.032 billion across the 104 ASX debutants. It follows an IPO record last year when 241 companies joined the exchange having raised $12.7 billion, including nine companies with market caps exceeding $1 billion on listing. Initial Public Offering (IPO) activity on the Australian Securities Exchange (ASX) was at its lowest level in more than a decade over 2022, with just over 100 new listings. RDN Raiden Resources completes data review over Tabba Tabba, WA.CYC Cyclopharm wins US FDA approval for Technegas.IVZ ASX Today: Stocks to watch on Tuesday.DLI Delta Lithium upgrades Mt Ida lithium resource.EGR EcoGraf locks in Q1 CY24 starting date for its WA-based battery anode facility.ATC Altech Batteries kickstarts CERENERGY permitting and licensing application process.LU7 Lithium Universe appoints engineering firm Hatch to manage Quebec lithium plant study.BBX BBX Minerals eyes resource expansion with "exceptional" REE recoveries at Ema, Brazil.MRD Mount Ridley Mines: The Esperance district prepped to disrupt rare earth element supply.CPV ClearVue Technologies announces encouraging second-gen IGU test results.TON 5 graphite stocks to watch as prices tipped to rise.
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LPM Lithium Plus Minerals confirms 94m of high-grade mineralisation at Lei, NT.DRE Dreadnought Resources consolidates landholding at prospective Bresnahan project, WA.
VR8 Vanadium Resources powers toward Steelpoortdrift final investment decision.
#Asx recent ipos update
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