TUESDAY 26 JUNE 2023: The IPO Network is delighted to release their first quarterly report of ASX IPOs in Australia for the 3 months ended 31 March 2023.
Q1 2023
IPO’s in Review
A quarterly summary of companies listing on the ASX
Since the start of calendar 2023, the quantity and value of IPO’s on the ASX was relatively low with only 10 new listings, raising a total of $60m and realizing a market capitalization for these companies of $300m once listed.
Market Commentary
• Key equity benchmarks have managed modest gains over 2023 to date. This despite both domestic and overseas stock markets suffering periods of relatively high volatility over this period.
• A mix of macro-economic concerns has kept investors on edge, headed by persistently high inflation rates that have prompted central banks here and overseas to regularly tighten monetary policy settings (with more such actions in the pipeline). These interest rate increases are presently resulting in reduced economic growth expectations. A raft of geopolitical concerns, headed by the Russia/Ukraine war and banking sector failures, have added to market uncertainty.
• Only 10 new companies joined the ASX over calendar 2023 to date, details of which are provided in the attached table (Evergreen Lithium listed just after end Q1 CY23).
• Eight of the 10 new listings over the quarter were Materials sector stocks, one was an Energy sector stock and the final one was a Technology company.
• Many of these new listings are now lower. As at mid May 2023, only four of these 10 companies were trading above their respective IPO issue prices, with most of these gainers Materials sector stocks.
• A modest IPO pipeline in place. Not surprisingly in the context of current market conditions, the current ASX IPO pipeline is relatively modest, numbering just 10. Most of these companies are again Materials sector-related
CY23 to date listings by market cap
| VHN Limited | $129.97m |
| Acusensus Limited | $85.48m |
| Evergreen Lithium Limited | $24.74m |
| Gold Hydrogen Limited | $16.83m |
| Leeuwin Metals Limited | $13.30m |
| Patagonia Lithium Limited | $10.54m |
| Dynamic Metals Limited | $7.70m |
| High-Tech Metals Limited | $4.93m |
| Acdc Metals Limited | $4.91m |
| SQX Resources Limited | $3.38m |
Potential IPO pipeline
| Company name | Sector | AU$ Size |
| Ashby Mining | Mineral exploration/processing | $15m |
| Augustus Minerals | Mineral exploration | $10m |
| Chilwa Mineral | Mineral Sands | $8m |
| Dragonfly Biosciences | Cannabidiol | $5m |
| DY6 Metals | Heavy rare earths | $7m |
| Innogy | Battery cathode minerals | $5m |
| Mining Green Metals | Mineral exploration | $5m |
| NGX | Graphite | $9m |
| Tiger Tasman Minerals | Mineral exploration | $8m |
| Western Australia Energy Resources | Mineral exploration | $5m |
About IPO Network
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The IPO Network will steer you around the pitfalls and help you list your organisation cost-effectively and in the fastest possible time. After your organization’s successful listing, we can also assist on an ongoing basis and help you to meet the ongoing compliance obligations imposed on directors and executive management
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