IPO & RTO Tracker, 2017: January Performance

IPO & RTO Tracker, 2017: January Performance

With the year well underway, January saw 8 Initial Public Offerings (IPO’s) and 5 Reverse Takeovers (RTO’s) list on the ASX.

Resource companies (FHS, KZR, DAV, BSX) were one of two sectors to feature prominently, joined by several consumer-facing businesses (BUB, WQW, SKN, MCA). Other sectors represented were: healthcare (LSH, ZNT); telecommunications services (UNL); information technology (AO1); and financials (TEK).

The overall performer of the month was Bubs Australia (BUB). Having engaged PAC Partners to raise $5.15m as part of a RTO, the manufacturer of organic baby food and goats milk formula raced from a listing price of 10c to a high of 45c within 4 days. In a surprise development, the company’s chairman resigned shortly after. Subsequent trading has seen BUB retreat to 18c, 80% above its listing price.

Other standout performers include Lifespot Health (LSH) and Winha Commerce and Trade International (WQW).

Lifespot Health raised $8m in a heavily oversubscribed IPO with the help of Peak Asset Management. LSH enjoyed a 100% rise on its ASX debut – the highest opening-day performance among January debutants. The stock has since traded sideways, mostly in the low-to-mid 30’s. The business reported contractual and market progress, including month-on-month revenue growth of 20% in December for its telehealth system.

Meanwhile, Chinese regional retailer WQW surged from a float price of 35c to 70c within 4 days. A steady decline has since ensued, ending January at 47c (+34.3%).

At the other end of the scale, Freehill Mining experienced a disappointing month. FHS lost 25% of its market value on its debut and finished the month 45% down.

Stay tuned for next month’s report.

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CompanyCategoryASX CodeListing DateIssue PricePrice End Day 1Price End Day 1 %Current Price% Difference
Bubs AustraliaRTOBUB3/01/2017$0.100$0.13535.0%$0.18080.0%
Winha Commerce & Trade InternationalIPOWQW5/01/2017$0.350$0.49040.0%$0.47034.3%
Skin ElementsIPOSKN6/01/2017$0.200$0.2000.0%$0.190-5.0%
Asset OwlRTOAO106/01/2017$0.200$0.165-17.5%$0.22010.0%
Lifespot HealthIPOLSH11/01/2017$0.200$0.400100.0%$0.33065.0%
United NetworksIPOUNL12/01/2017$0.200$0.26030.0%$0.2052.5%
Zenitas HealthRTOZNT13/01/2017$1.000$0.900-10.0%$1.0000.0%
Freehill MiningIPOFHS16/01/2017$0.200$0.150-25.0%$0.110-45.0%
Kalamazoo ResourcesIPOKZR16/01/2017$0.200$0.2105.0%$0.185-7.5%
Thorney TechnologiesRTOTEK18/01/2017$0.200$0.23015.0%$0.23517.5%
Davenport ResourcesIPODAV20/01/2017$0.200$0.195-2.5%$0.195-2.5%
Blackstone MineralsIPOBSX23/01/2017$0.200$0.2052.5%$0.2000.0%
Murray Cod AustraliaRTOMCA31/01/2017$0.050$0.05816.0%$0.05816.0%

The team at

IPO Society

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IPO & RTO Tracker, 2017: January Performance
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