Hi, you’re watching ‘The IPO Corner’. The initial public offerings space has become hotter than ever. In today’s show we will discuss why the Australian Securities Exchange is witnessing a surge in IPO activity.
• First on the list is East 33.
• A rock oyster producer and supplier, East 33 is set to launch on the Australian Securities Exchange on the 29th July 2021. The company has proposed to raise AU$32 million at an issue price of 20 cents per share.
• Next, the market is also keenly eyeing the IPO of M3 Mining. This metal and gold exploration company is set to list on the ASX on 29 July 2021.
• Online property settlements firm PEXA floated Australia’s biggest IPO this year and made a muted start on the exchange.
• The freshy-listed company Aquirian made strong debut on the ASX. The shares of the mining services firm surged 20% on listing on on July 27th.
• Engineering services provider Aerison Group had a muted debut on the ASX on July the 12th, closing marginally higher against its IPO price of 20 cents. The stock delivered a decent return of 30% in the first five days of trade last week.
• Mineral explorer Resource Base is another company that made a weak debut on the ASX on July the 12th. In the first week of its trade, the stock delivered a negative return of 10%.