HLB Mann Judd’s bi-annual survey of new ASX listings has put numbers on what we already knew: last year was woeful for IPOs, and this year isn’t looking much better.
The number of initial public offerings on the Australian Securities Exchange fell 54 per cent in 2022, and the forecast for new listings this year remains bleak, professional services firm HLB Mann Judd says in a report.
However, the subsequent near-halving of Chrysos’ share price reflected the indifferent performance suffered by most new ASX entrants last year. As investors fled listed markets, the 87 IPO companies recorded an average year-end share price decline of 2 per cent, compared with a 17 per cent gain for the class of 2021.Sluggish markets and weaker investor sentiment also played havoc with subscription targets in 2022.
“There’s a particular set of circumstances at Virgin – Bain knows it will make a profit in 2022-23, so the thinking might be to list it now, because who knows what’s around the corner in terms of fuel costs, or some other macroeconomic or geopolitical shock,” Mr Ohm said. Just 10 companies had formally applied for an ASX listing, seeking to raise a $118.5 million, as the report was completed earlier this month. That is considerably lower than the $250.40 million sought at the end of 2021.The largest IPO in the 2023 pipeline was rare earths producer VHM, which listed on January 9 after raising $30 million, the report said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Watch the secret super valuation gapAustralians are unlikely to be impressed when they see their super fund balances dipped in 2022, but the real valuation of their nest egg could be much lower.
Read more »
Rich Listers cash in as $100m worth of pubs change hands in JanuaryPub broker Andrew Jolliffe says the flurry of January deals points to another busy year for the sector after $2.2 billion of these assets were sold in 2022.
Read more »
Spot power prices tumble as renewable share of energy mix reaches new highsEmbattled consumers are set for some welcome relief after sky-high wholesale electricity prices fell by more than half in the final three months of 2022, analysis shows.
Read more »
Thousands of customers may not receive orders as online furniture retailer winds up after collapseThousands of customers may no longer receive their orders from an online furniture and homewares retailer after its administration recommended winding up the company. 9News
Read more »
Man, 74, arrested in Spain over letter bombs sent to PM and embassiesMan suspected of being author of letter sent to Pedro Sánchez and several institutions in late 2022, reports say
Read more »