The month of October has certainly been a very busy one for IPOs.
A number of shares have completed their IPOs this month and hit the ASX boards. Some more successfully than others.
Here’s a summary of recent IPOs and how they have fared since listing:
Adore Beauty Group Limited (ASX: ABY)
The Adore Beauty share price has had a difficult start to life on the ASX boards. This afternoon the online beauty retailer’s shares are trading at $5.88. This represents a 13% decline from its IPO price of $6.75.
Adore Beauty raised $269.5 million from its IPO, giving it a market capitalisation of $635.3 million. The company intends to use the proceeds of its IPO to support its growth strategy and future growth opportunities. This includes growing its brand awareness, strengthening its offering, and expanding into new markets and adjacent categories.
Aussie Broadband Limited (ASX:ABB)
The Aussie Broadband share price has been a very strong performer since completing its IPO. On Tuesday afternoon the internet provider’s shares are fetching $1.89. This is up a sizeable 89% from its IPO listing price of $1.00.
Aussie Broadband listed on the Australian share market after raising approximately $40 million through a partially underwritten initial public offering. The funds raised are going to be used predominantly on the deployment of a dark fibre network.
CleanSpace Holdings Limited (ASX: CSX)
The CleanSpace share price has also been a strong performer since listing on the Australian share market. The shares of the designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets are trading at $6.88 this afternoon. This is up an impressive 56% from its listing price of $4.41.
CleanSpace’s IPO raised a total of $131.4 million. Though, only $20 million of this was primary capital. The remainder is for long term shareholders to realise some of their investments.
MyDeal.com.au Limited (ASX: MYD)
The MyDeal.com.au share price is trading at $1.32 this afternoon. While this is notably higher than its IPO price of $1.00, it is materially lower than its high. The online retail marketplace provider’s shares rocketed 120% higher on their first day on the ASX boards to $2.20.
MyDeal raised $40 million from its IPO, which comprises $35 million for the company and $5 million for certain existing shareholders. It intends to use the proceeds to drive future growth. This includes growing its private label business, investing in its proprietary technology, and investing in advertising to grow its customer base and brand.
Zebit Inc (ASX: ZBT)
The Zebit share price has had a disastrous start to life on the ASX boards. This afternoon the US-based e-commerce company’s shares are changing hands for 97.5 cents. This is down 38% from its IPO price of $1.58.
The California-based company raised A$35 million, which it plans to use to rapidly accelerate its growth in North America. Zebit markets itself as the Amazon for the under-served, with a built in buy now pay later platform that provides credit to those that cannot get it elsewhere.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.