Fewer ASX IPOs in 2023, but here's how they've performed

We reveal the top 10 new listings by size and how their share prices have changed to date.

IPO spelt out on a laptop with a red and green bar chart underneath.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The number of ASX initial public offerings (IPOs) last year was dramatically lower than in 2022.

The ASX reports that $1.1 billion of IPO capital was raised among 45 IPO listings in 2023. The five-year average for ASX IPOs is $5.4 billion among 120 listings per year.

But the total quoted market capitalisation from all new market entrants in 2023 was higher than in 2022.

The total for IPOs, demergers, and new dual and direct listings was $33.7 billion, up 8% from the previous year.

In an article published on asx.com.au today, Alice Nguyen from ASX Listings said this was a global trend because growth companies faced strong economic headwinds last year.

But she said ASX IPO conditions may be better this year.

The biggest ASX IPO of 2023

Redox Pty Ltd (ASX: RDX) was the largest ASX IPO last year, raising $402 million and achieving a market cap of $1.3 billion at the time of listing in July.

Redox is a family-owned chemical and ingredient distributor. The owners sold a 30% stake with the aim of raising capital for offshore expansion.

The biggest new listings by value

The most significant listing by value was the dual-listing of US mining behemoth Newmont Corporation CDI (ASX: NEM). This follows Newmont's acquisition of ASX gold mining stock Newcrest.

Another mega-merger was the $11 billion marriage and dual listing of Livent Corp and Allkem to form new ASX lithium share, Arcadium Lithium (ASX: LTM).

A big one on the way this year is the proposed merger of Sigma Healthcare Ltd (ASX: SIG) and the unlisted Chemist Warehouse.

The deal will create an $8.8 billion ASX healthcare major, once it is completed in 2H 2024 (assuming regulatory approvals).

Top 10 ASX listings in 2023… and their share prices today

This list represents the top 10 new listings by market cap, including ASX IPOs and major mergers.

ASX shareSectorDate of listingShare price todayPrice growth since listing
Newmont Corporation CDI (ASX: NEM) Materials27 Oct$55.01(7.6%)
Arcadium Lithium CDI (ASX: LTM)Materials22 Dec$7.25(28.2%)
Light & Wonder Inc. CDI (ASX: LNW)Consumer discretionary22 May$126.2238.6%
Abacus Storage King Stapled Securities (ASX: ASK)Real estate1 Aug$1.17(4.8%)
Freightways Group Ltd (ASX: FRW)Industrials14 Sept$7.83(0.75%)
Redox Pty Ltd (ASX: RDX) Industrials3 Jul$2.29(8.8%)
Brazilian Rare Earths Ltd (ASX: BRE)Materials21 Dec$1.71(5%)
Nido Education Ltd (ASX: NDO)Consumer discretionary16 Oct97 cents(3%)
VHM Ltd (ASX: VHM) Materials9 Jan64 cents(50.4%)
Acusensus Ltd (ASX: ACE) Information technology12 Jan88 cents12.8%

Motley Fool contributor Bronwyn Allen 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.

More on IPOs

Modern accountant woman in a light business suit in modern green office with documents and laptop.
IPOs

What percentage of GYG shares are owned by the company founders?

Guzman's founders have done well from the company's IPO...

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
IPOs

How rich are the Guzman Y Gomez founders following the company's IPO?

Guzman's IPO has netted its co-founders millions...

Read more »

Investor covering eyes in front of laptop
IPOs

Guzman y Gomez share price implodes 10% on ASX trading day 2

The Guzman Y Gomez share price is tumbling on Friday. But why?

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
IPOs

Who owns Guzman y Gomez shares?

Holy Guacamole! These investors have a lot of money in Guzman y Gomez shares.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
IPOs

Guzman y Gomez shares rocket 36% on IPO day

The quick service restaurant operator is having a stunning first day on the ASX boards.

Read more »

Two children and a dog get set to launch their friend rocketing high into the sky.
IPOs

It's only a day until ASX investors can buy Guzman y Gomez shares

We're only one sleep away from the fast food company's ASX debut.

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
IPOs

Is Guzman y Gomez stock too expensive?

Should you stay clear of this hot IPO?

Read more »

three young women smile as they hold up their loaded orn chips as they sit in front of a large bowl of dip.
IPOs

Who is investing in the Guzman y Gomez IPO?

Some substantial investors are planning to buy GYG shares.

Read more »