Whilst there hasn't necessarily been any blockbuster IPOs in the last 12 months, a number of smaller companies have hit the boards and not looked back.
Three IPOs which have more than doubled in value since listing are listed below. Here's why they have gone gangbusters:
The Auscann Group Holdings Ltd (ASX: AC8) share price is up 112% since its IPO in February. The medicinal cannabis company's shares have been on a tear this year thanks largely to the loosening of regulations and the view that it may be best prepared to succeed in the fiercely competitive industry thanks to its strategic partnership with Canadian pot stock giant Canopy Growth Corp. AusCann is developing products to treat palliative care symptoms, chemotherapy-induced nausea, treatment-resistant childhood epilepsy, and chronic pain. I would suggest investors add AusCann to their watch list.
The Freedom Insurance Group Ltd (ASX: FIG) share price has gained 147% since hitting the ASX boards at a listing price of 35 cents per share towards the end of last year. Since listing the life insurance products provider has upgraded its full-year guidance twice thanks to impressive market share gains. The great news for shareholders is that management isn't satisfied with its current market share, and has a medium-term goal of becoming the second largest participant in the direct life insurance market for sales. Although its shares have rallied strongly, I feel Freedom could still be worth a closer look.
The GetSwift Ltd (ASX: GSW) share price has risen an incredible 480% since listing on the local share market at 20 cents per share in December. I can't say I'm surprised by this gain either. This exciting logistics platform provider's software continues to attract more and more big name clients including banking giant Commonwealth Bank of Australia (ASX: CBA). Pleasingly, the company is debt-free and cash-rich thanks to a recent $24 million placement. These funds will be used to accelerate its growth and expand into other lucrative verticals. Despite the strong gain since its listing, I still see significant upside potential for its shares in the future.
