Judd Perth News Today

The copper miner’s oversubscribed initial public offering could augur “green shoots” for the struggling IPO market.

A host of market headwinds spurred a halving in the total number of initial public offerings launched in 2022, according to the latest research from HLB Mann Judd. Global chartered accounting and ad

HLB Mann Judd research has found IPOs raised just over $1 billion in 2022, compared to $12.3 billion in the previous year, with market uncertainty likely to dent activity in the first half of 2023.

The initial public offering market has shrunk in the last few months, bucking the trend of high listings that the market has seen in the previous 18 months.

The ASX’s pipeline contains just one-third of listings, seeking one-10th the amount of capital, compared to the same time last year.

The number of IPOs and money raised last year more than doubled. A total of 191 initial public offerings (IPOs) took place in 2021 raising a collective $12.33 billion according to the latest HLB Mann

The jump in assets raised was driven by the 13 large-cap firms which listed during the period compared to just one in the previous first half. There was a particular dominance by the materials sector which accounted for over half of all IPOs thanks to 26 small-cap listings and five large-cap ones which raised $648.8 million. Following materials, the best-represented sectors were banks, and healthcare equipment and services. Companies which met their subscription targets, some 87% of IPOs, tende...

Marcus Ohm, HLB Mann Judd Perth, said the strong end to the year reflected the resilience of Australia’s economy amid particularly tough business conditions. “COVID-19 brought with it a unique set of circumstances and the March and June quarters of 2020 saw historically low volumes with only 12 companies listing,” Ohm said. “The June quarter in particular was heavily impacted by falls in the wider market and high levels of investor uncertainty. “But there were signs of improvement by ...