An IPO or Initial Public Offering is the process through which a private company goes public, offering shares in its company widely to outside investors for the first time. This video explains the process for companies heading to market.
So far, 2024 is proving to be an another year of IPO drought downunder – there’s been the smallest trickle of new listings, with the yearly total on track to be below the 33 debuts in 2023, and well below the record of 202 in 2021.
Amongst the few debutants have been:
Guzman Y GOMEZ (ASX:GYG) listing today and rocketing up 36 per cent so far from its $22 IPO price. It has been trading at $30 a share on day one.
Infini Resources (ASX:I88) which joined the ASX on January 15. It’s a mineral explorer with multiple projects and developments throughout Australia and Canada.
It debuted at 20 cents per share but effectively hit the ASX closer to 40 cents. It’s trading at 16 cents on June 20.
A more recent example is Sun Silver (ASX:SS1), a junior explorer that debuted just over a month ago.
It saw great interest that led to the company listing early, and well above its raising price of 20 cents. The share price doubled and then climbed to 72 cents in its first week of trade. Today it has been trading above 50 cents.
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