Hydrogen, lithium, rare earths, oh my! Here are 3 shares floating on the ASX in 2023

The new year is set to bring new faces to the Aussie bourse.

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The fireworks have been set off, the ball has dropped, and the party has ended. 2023 is officially here, and with it comes three new ASX hydrogen, lithium, and rare earths shares, each floating in January.

Let's take a look at the companies set to float on the Aussie bourse following their initial public offerings (IPOs).

3 new shares hitting the market in 2023

VHM Limited (ASX: VHM)

Of the three shares, the first to list on the ASX following its IPO is expected to be rare earths and mineral sands developer VHM Limited. It's anticipated to list on Monday.   

The company owns the globally significant Goschen project, located in Victoria. It's aiming to be a major supplier of critical minerals for renewable energy, technology, and batteries.

The project's first production is expected in the first half of 2025.

VHM is aiming to raise $20 million through its IPO, with an additional $10 million of oversubscriptions accepted. It's issuing shares for $1.35 each.

It's expected to boast a market capitalisation of between $256 million and $266 million at its offer price.

Gold Hydrogen Limited (ASX: GHY)

VHM will likely be quickly joined on the ASX by hydrogen company Gold Hydrogen. The stock is anticipated to begin trading on 13 January.

It's planning to raise around $20 million by offering shares for 50 cents under its IPO.

Unlike many other hydrogen outfits, the company is involved with naturally occurring hydrogen. It's hoping to kick start drilling for the gas in South Australia in the September quarter.

Gold Hydrogen is considering monetising its production by means such as onsite power generation, pure hydrogen generation and distribution, and storage applications.

Gold Hydrogen is predicted to list with a $70 million valuation, based on its offer price.

Patagonia Lithium Ltd (ASX: PL3)

Finally, Patagonia Lithium is also tipped to list on 13 January after raising up to $8 million through its IPO, issuing shares for 20 cents apiece.

Patagonia Lithium is, of course, a lithium company. It holds three projects in Argentina's lithium triangle, nearby others held by the likes of Lake Resources N.L. (ASX: LKE) and Allkem Ltd (ASX: AKE).

While the projects are considered prospective for lithium, the battery-making material hasn't been identified on any of the sites yet. Exploration at the projects is expected to kick off shortly after the company's ASX float.

It's anticipated to list with a market capitalisation of around $11 million.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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