- W2V IPO delivered a massive 90% listing gain on 17 September 2021.
- SSH shares racked up 30% gain on IPO debut.
- KNB is another hot IPO that investors are keeping a track of and would soon hit the ASX.
In the ongoing IPO frenzy, the market in Australia has rebounded sharply in 2021, after it went into hibernation after the COVID-19 pandemic. A lot of new entrants are finding it an ideal opportunity to raise capital from the public as the economy has started to recover.
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Also, historic low levels of interest rate is forcing investors to channelise their savings into the stock market, making accessibility of funds a relatively easy task for the companies. On that note, let’s have a look at the three hottest ASX IPOs, of which two made their debut on 17 September 2021 on the ASX.
- Way 2 Vat Limited (ASX:W2V)
Way 2 Vat is an Israel-based company which has developed its proprietary W2V Platform to reclaim many types of Value Added Tax (VAT) in different industries and markets. The platform leverages the power of Artificial Intelligence (AI) to help clients reclaim VAT and GST through a seamless and hassle-free process.
The company raised AU$7 million via the issue of 35 million ordinary shares at a price of AU$0.2 per share. The company made a spectacular listing on the bourse, opening at AU$0.38, almost doubling investors’ money. The volatile trading session marked a high of AU$0.395 and a low of 0.335. The volume, as of 1:35 AM AEST, was recorded at over 8.2 million shares.
- SSH Group Limited (ASX:SSH)
SSH was another hot listing today on the ASX. The company is in the business of providing a host of safety services including security hire and providing road safety services to mining and construction companies. It also caters to other government market sectors in Western Australia.
The company raised AU$6.25 million via IPO, issuing 31.25 million fully paid ordinary shares at an issue price of AU$0.2 per share. SSH shares delivered a decent listing gain of 30% by opening at AU$0.265. However, demand on the first day led the stock to surge to a high of AU$0.295, garnering a volume of over 5.82 million.
- Koonenberry Gold Limited (ASX:KNB)
Koonenberry Gold is an Australian mining and exploration company, with an upcoming ASX IPO. The company’s Koonenberry Gold Project has substantial existence of gold field overlying the exploration targets which enhances exploration target.
The company is raising AU$10 million to fund its exploration activities. It will be issuing 50 million ordinary shares at an issue price of AU$0.2 per share. Ventnor Securities Pty Limited is the lead manager to the IPO.
The two most recent ASX IPOs – W2V and SSH – have delivered good returns to investors. These fat listing gains indicate the IPO market is still hot and investors are not shying away to buy their favourite companies even at a price higher than the issue price.