In 2021, IPO activity on the Australian Securities Exchange broke several records. 241 companies went public through ASX during the year, raising nearly $12.7 billion.
The record-breaking streak didn’t last for long. In 2022, the ASX debutants were only 104, raising a total of $1.032 billion, severely lower than the previous year.
The scale is expected to shift in 2023 with plenty of companies waiting to go public during the year. Here’s a list of 5 upcoming ASX IPOs in 2023:
Ashby Mining is a mineral resources company based in Australia. It secured rights to over 600 km2 of land, covering gold processing plants and historical mines, but until the completion of the IPO, Ashby Mining still won’t officially own these assets.
The company will go public through ASX on the 27th of April, particularly at 11:00 AM AEST. It’s expecting to raise $15 million of capital, with the lowest issue price being $.20.
Similar to Ashby Mining, Innogy is an exploration company specializing in battery minerals like cobalt, nickel, and lithium. Its vision is to develop sustainable, innovative exploration methods that don’t deplete the planet’s resources.
Innogy currently has an exploration portfolio of 5,300 km2, and it focuses on nickel sulfide mineralization. It should go public on the 25th of May at 11:00 AM AEST.
The capital raised is estimated at $8 million, with the lowest issue price being $0.20. The expected offer close date is the 27th of April.
Mining Green Metals is a mining company that specializes in the exploration and development of green metal projects. Its mining portfolio includes nickel, uranium, lithium, PGEs, and vanadium, and it operates in Western Australia.
The company will go public on the 10th of May, expecting to raise a capital of $5 million.
NGX stands for Nigerian Exchange, a leading African company specializing in graphite exploration and development. It’s a subsidiary of the NGX Group, which owns other companies under its name.
NGX will go public through ASX on the 17th of May, expecting to raise a specific capital of $9,561,184. The expected offer close date is the 26th of April.
Another mining company that’s waiting to go public soon, Tiger Tasman is an explorer of battery minerals, base metals, and critical minerals. The company specializes in decarbonization and energy transition, and it’s based in Australia.
Tigers Tasman will go public in less than a month, with a public listing date of May 15. It’s expecting to raise a capital of $8 million, with the lowest issue price being $0.20.
There are plenty of companies waiting to debut on ASX during 2023. Aside from these mining and exploration companies we listed here, there are other ones that still don’t have a set date for the IPO, but they’re waiting in line.
The year will hopefully be better than 2022 for ASX debutants.
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