IPO Network Releases March 2023 Quarter IPOs Report

By 26/06/2023 August 11th, 2023 No Comments

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 nameSectorAU$ Size
Ashby MiningMineral exploration/processing$15m
Augustus MineralsMineral exploration$10m
Chilwa MineralMineral Sands$8m
Dragonfly BiosciencesCannabidiol$5m
DY6 MetalsHeavy rare earths$7m
InnogyBattery cathode minerals$5m
Mining Green MetalsMineral exploration$5m
Tiger Tasman MineralsMineral exploration$8m
Western Australia Energy ResourcesMineral 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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