2021 is set to be another big year for ASX capital raisings with solid volumes so far in 2021.
In the first nine weeks of the new year, ASX companies have raised over $1.96 billion.
Although this is lower than the $3 billion raised in the first two months of 2020, that figure was skewed by two deals worth $1.5 billion by large caps Coles (ASX:COL) & Orica (ASX:ORI).
Furthermore there were only 104 deals completed in the first two months of 2020, but 135 in 2021.
While 90 per cent of capital raised was through placements, the IPO market has been healthy.
There have been nearly double the number of IPOs compared with this time last year with eight in the first two months of 2020 and 15 in the first two months of 2021.
2021’s class of IPOs have been performing better than their peers at this time last year. In early March 2020, the average IPO in the preceding 12 months was only up 5.5 per cent as at March 9 2020. But as of yesterday, 2021’s IPOs were sitting on an average gain of 34 per cent.
The resources sector raised more capital than any other sector at approximately $749 million.
Here’s a list of all ASX capital raisings so far in 2021…
(Data includes deals completed up to March 4 and excludes withdrawn or pending deals)
Effective Date Code Company Offer Size (M) Offer Type Offer Price Last Close Offer To Date Industry Sector 01/04/2021 BET Betmakers Technology Group Ltd 50 Placement 0.6 0.97 47 Consumer 01/22/2021 SKN Skin Elements Ltd 0.6329 Placement 0.1 0.1 0 Consumer 02/01/2021 CPT Cipherpoint Ltd 1 Placement 0.047 0.046 1 Technology 02/03/2021 PWG Primewest Group Ltd 60.2135 Placement 1.27 1.3 3 Financial 02/03/2021 PWN Parkway Minerals NL 5.248 Placement 0.018 0.016 -11 Resources 02/08/2021 EMH European Metals Holdings Ltd 7.095 Placement 1.1 1.58 27 Resources 02/10/2021 HMD HeraMED Ltd 2.3323 Placement 0.09 0.098 17 Health 02/11/2021 VUL Vulcan Energy Resources Ltd 120 Placement 6.5 6.25 -5 Resources 02/11/2021 SGC SACGASCO Ltd 5.0033 Placement 0.065 0.091 34 Energy 02/12/2021 CXO Core Lithium Ltd 40.5018 Placement 0.25 0.225 -12 Resources 02/15/2021 SHE Stonehorse Energy Ltd 2.0031 Placement 0.02 0.024 0 Financial 02/16/2021 AVE Avecho Biotechnology Ltd 5.06 Placement 0.022 0.021 0 Health 02/17/2021 PXX Polarx Ltd 5 Placement 0.04 0.035 -15 Resources 02/26/2021 GGX Gas2Grid Ltd 1.4765 Placement 0.0037 0.004 8 Energy 03/02/2021 CZN Corazon Mining Ltd 2.0193 Placement 0.05 0.055 22 Resources 03/03/2021 BOQ Bank of Queensland Ltd 673 Placement 7.35 9 22 Financial 03/03/2021 NVX Novonix Ltd 115.13 Placement 2.9 2.65 -9 Industrial 03/03/2021 RCP Redbank Copper Ltd 7.4334 Placement 0.0725 0.13 79 Resources 01/05/2021 IOD IODM Ltd 1.75 Placement 0.15 0.165 10 Technology 01/06/2021 BTH Bigtincan Holdings Ltd 35 Placement 1.05 0.905 -13 Technology 01/06/2021 SNS SenSen Networks Ltd 7.15 Placement 0.125 0.225 72 Technology 01/07/2021 NUH Nuheara Ltd 11.5 Placement 0.04 0.042 5 Health 01/07/2021 AUK AuMake Ltd 6.105 Placement 0.06 0.045 -23 Consumer 01/08/2021 ZEO Zeotech Ltd 1.7 Placement 0.05 0.077 48 Resources 01/14/2021 ODY Odyssey Gold ltd 3.125 Placement 0.025 0.096 260 Resources 01/22/2021 GLV Global Oil & Gas Ltd 1.1 Placement 0.011 0.023 109 Energy 01/25/2021 SBW Shekel Brainweigh Ltd 2.1 Placement 0.16 0.14 -9 Consumer, Non-cyclical 01/27/2021 CYC Cyclopharm Ltd 30.0001 Placement 2.6 2.53 -2 Health 01/28/2021 VMS Venture Minerals Ltd 10 Placement 0.055 0.055 0 Resources 01/28/2021 KAU Kaiser Reef Ltd 7.5 Placement 0.3 0.4 33 Resources 01/28/2021 CML Chase Mining Corp Ltd 0.7649 Placement 0.016 0.016 0 Resources 01/29/2021 ROG Red Sky Energy Ltd 4.3 Placement 0.002 0.003 25 Energy 01/29/2021 TAO Tao Commodities Ltd 3.645 Placement 0.3 0.8 128 Resources 01/29/2021 JAT Jatcorp Ltd 2.8275 Placement 0.019 0.024 21 Consumer, Cyclical 01/29/2021 NES Nelson Resources Ltd 2.1525 Placement 0.075 0.105 47 Resources 01/29/2021 NWE Norwest Energy NL 2 Placement 0.006 0.0055 -17 Energy 01/29/2021 JDR Jadar Resources Ltd 1.8 Placement 0.03 0.039 27 Resources 02/01/2021 GLN Galan Lithium Ltd 9.1 Placement 0.5 0.465 -5 Resources 02/01/2021 EUR European Lithium Ltd 7 Placement 0.05 0.063 28 Resources 02/01/2021 CCG Comms Group Ltd 6.25 Placement 0.08 0.076 -7 Technology 02/01/2021 POD Podium Minerals Ltd 2.5 Placement 0.115 0.16 43 Resources 02/01/2021 CM8 Crowd Media Holdings Ltd 1.6 Placement 0.05 0.037 -24 Technology 02/02/2021 RBR RBR Group Ltd 1.9937 Placement 0.008 0.01 37 Resources 02/03/2021 TKM Trek Metals Ltd 2.7 Placement 0.06 0.066 13 Resources 02/03/2021 SER Strategic Energy Resources Ltd 1.72 Placement 0.043 0.041 -9 Energy 02/04/2021 ACR Acrux Ltd 7.8151 Placement 0.157 0.17 11 Consumer, Non-cyclical 02/04/2021 MRQ MRG Metals Ltd 2.2235 Placement 0.013 0.011 -15 Resources 02/04/2021 VIC Victory Mines Ltd 1.95 Placement 0.0025 0.003 20 Resources 02/04/2021 PG1 Pearl Global Ltd 1.5 Placement 0.09 0.088 -1 Resources 02/05/2021 MX1 Micro-X Ltd 30.5 Placement 0.34 0.41 21 Health 02/05/2021 BRV Big River Gold Ltd 20.4 Placement 0.05 0.37 -10 Resources 02/05/2021 MTH Mithril Resources Ltd 5 Placement 0.019 0.02 5 Resources 02/05/2021 RNT Rent.com.au Ltd 2.75 Placement 0.05 0.205 310 Communications 02/08/2021 GMR Golden Rim Resources Ltd 3.7305 Placement 0.009 0.008 0 Resources 02/08/2021 LSA Lachlan Star Ltd 2.4389 Placement 0.017 0.029 76 Resources 02/08/2021 RAN Range International Ltd 1.8 Placement 0.02 0.026 30 Industrial 02/08/2021 CYL Catalyst Metals Ltd 1.26 Placement 2.1 1.865 -11 Resources 02/09/2021 BPH BPH Energy Ltd 9 Placement 0.13 0.165 31 Energy 02/09/2021 TPD Talon Petroleum Ltd 4 Placement 0.004 0.005 12 Energy 02/09/2021 SHO SportsHero Ltd 1.5 Placement 0.03 0.032 10 Technology 02/10/2021 IDA Indiana Resources Ltd 1 Placement 0.06 0.086 47 Resources 02/10/2021 EFE Eastern Iron Ltd 0.5 Placement 0.008 0.011 37 Resources 02/11/2021 LCD Latitude Consolidated Ltd 10 Placement 0.02 0.035 75 Resources 02/11/2021 MQR Marquee Resources Ltd 0.75 Placement 0.05 0.058 18 Resources 02/12/2021 GPR Geopacific Resources Ltd 140 Placement 0.42 0.345 -19 Resources 02/12/2021 EGR Ecograf Ltd 54.598 Placement 0.6 0.66 15 Industrial 02/12/2021 MNS Magnis Energy Technologies Ltd 30.3267 Placement 0.28 0.275 4 Resources 02/12/2021 CRL Comet Resources Ltd 1 Placement 0.02 0.023 25 Resources 02/15/2021 LGP Little Green Pharma Ltd 22.1 Placement 0.65 0.67 9 Health 02/15/2021 MEB Medibio Ltd 2 Placement 0.009 0.009 0 Health 02/15/2021 FAU First Ltd 1.28 Placement 0.017 0.017 0 Financial 02/16/2021 AGY Argosy Minerals Ltd 30 Placement 0.13 0.11 -12 Resources 02/17/2021 PIL Peppermint Innovation Ltd 2.5 Placement 0.01 0.027 200 Technology 02/17/2021 CSE Copper Strike Ltd 1.05 Placement 0.095 0.115 21 Resources 02/18/2021 BMN Bannerman Resources Ltd 12 Placement 0.105 0.13 0 Resources 02/18/2021 KIN Kin Mining NL 12 Placement 0.13 0.11 -12 Resources 02/18/2021 CV1 CV Check Ltd 10.4 Placement 0.165 0.155 -6 Technology 02/18/2021 GTE Great Western Exploration Ltd 5 Placement 0.25 0.26 6 Resources 02/18/2021 ANL Amani Gold Ltd 1.4 Placement 0.001 0.0015 0 Resources 02/19/2021 CZL Consolidated Zinc Ltd 2.25 Placement 0.04 0.041 3 Resources 02/22/2021 SVL Silver Mines Ltd 30.0001 Placement 0.22 0.225 -5 Resources 02/22/2021 NTU Northern Minerals Ltd/Australi 7.02055 Placement 0.049 0.045 158 Resources 02/22/2021 WFL Wellfully Ltd 1.648 Placement 0.075 0.084 8 Consumer, Non-cyclical 02/23/2021 IOU IOUpay Ltd 50 Placement 0.5 0.52 16 Communications 02/23/2021 GEV Global Energy Ventures Ltd 6.3 Placement 0.1 0.092 -7 Industrial 02/23/2021 EMU Emu NL 3.2446 Placement 0.042 0.064 67 Resources 02/23/2021 MOH Moho Resources Ltd 2.53 Placement 0.09 0.081 -10 Resources 02/23/2021 LSR Lodestar Minerals Ltd 1.32 Placement 0.011 0.012 18 Resources 02/24/2021 BET Betmakers Technology Group Ltd 49.9563 Placement 0.7 0.97 26 Consumer, Cyclical 02/24/2021 DYL Deep Yellow Ltd 40.7997 Placement 0.65 0.71 -3 Resources 02/24/2021 IXR Ionic Rare Earths Ltd 12 Placement 0.04 0.058 38 Resources 02/24/2021 FEL Fe Ltd 5.5522 Placement 0.045 0.047 0 Resources 02/25/2021 AHF Australian Dairy Nutritionals 6.5 Placement 0.06 0.054 -3 Consumer 02/25/2021 VRC Volt Resources Ltd 3 Placement 0.015 0.016 0 Energy 02/25/2021 PCL Pancontinental Oil & Gas NL 0.71 Placement 0.001 0.0015 50 Energy 02/26/2021 EM2 Eagle Mountain Mining Ltd 9 Placement 0.35 0.485 34 Resources 02/26/2021 MNB Minbos Resources Ltd 7.3 Placement 0.08 0.078 0 Resources 02/26/2021 MR1 Montem Resources Ltd 5.167 Placement 0.17 0.165 0 Energy 02/26/2021 RML Resolution Minerals Ltd 3.25 Placement 0.028 0.023 -14 Resources 03/01/2021 PKS PKS Holdings Ltd 9.78 Placement 0.35 0.37 1 Technology 03/01/2021 CAM Clime Capital Ltd/fund 3.1 Placement 0.87 0.88 1 Financial 03/01/2021 AQD AusQuest Ltd 2.35 Placement 0.021 0.021 -5 Resources 03/02/2021 BNO Bionomics Ltd 15.9916 Placement 0.145 0.325 148 Consumer, Non-cyclical 03/02/2021 TRT Todd River Resources Ltd 3.3 Placement 0.055 0.073 27 Resources 03/02/2021 LCY Legacy Iron Ore Ltd 3.15 Placement 0.02 0.016 -20 Resources 03/02/2021 RGI Roto-Gro International Ltd 2 Placement 0.05 0.053 6 Industrial 03/03/2021 AHQ Allegiance Coal Ltd 15 Placement 0.08 0.079 -1 Energy 02/22/2021 88E 88 Energy Ltd 12 Placement 0.008 0.009 12 Energy 01/20/2021 CYP Cynata Therapeutics Ltd 0.8075 Placement 0.7 0.65 -7 Health 01/29/2021 TNG TNG Ltd 3.727 Placement 0.1 0.089 -6 Basic Materials 01/29/2021 ANW Aus Tin Mining Ltd 1.8018 Placement 0.001 0.001 100 Basic Materials 01/29/2021 PNX PNX METALS Ltd 1.2137 Placement 0.006 0.008 33 Financial 02/10/2021 ACW Actinogen Medical Ltd 35.51 Placement 0.22 0.023 -90 Health 02/12/2021 BFC Beston Global Food Co Ltd 6.3767 Placement 0.065 0.068 11 Health 03/02/2021 XPE Xped Ltd 0.6523 Placement 0.001 0.002 100 Technology 01/19/2021 TLG Talga Group Ltd 36.9912 Placement 1.45 1.38 -7 Resources 01/29/2021 5GG Pentanet Ltd 22.46 IPO 0.25 0.61 132 Technology 02/09/2021 BEX Bikeexchange Ltd 20 IPO 0.26 0.26 -2 Consumer, Cyclical 01/07/2021 TRN Torrens Mining Ltd 10 IPO 0.2 0.165 -20 Resources 01/12/2021 FLX Felix Group Holdings Ltd 12 IPO 0.36 0.32 -13 Industrial 01/18/2021 CHM Chimeric Therapeutics Ltd 35 IPO 0.2 0.31 62 Health 01/20/2021 AGC Australian Gold & Copper Ltd 10 IPO 0.2 0.17 -13 Resources 02/05/2021 M24 Mamba Exploration Ltd 7 IPO 0.2 0.23 10 Resources 02/12/2021 AWJ Auric Mining Ltd 7.2564 IPO 0.25 0.175 -26 Resources 02/12/2021 SHG Singular Health Group Ltd 6 IPO 0.2 0.63 215 Health 02/18/2021 NNG Nexion Group Ltd 8 IPO 0.2 0.25 30 Technology 03/03/2021 EZZ Ezz Life Science Holdings Ltd 6 IPO 0.5 1.16 Health 02/08/2021 OZM OzAurum Resources Ltd 12 IPO 0.25 0.17 -26 Resources 03/02/2021 3MF 3D Metal Forge Ltd 10 IPO 0.2 0.26 40 Technology 01/06/2021 CNJ Conico Ltd 2.2693 RIGHTS 0.03 0.027 -10 Resources 01/21/2021 CIO Connected IO Ltd 0.495888 RIGHTS 0.002 0.008 350 Technology 01/28/2021 XPE Xped Ltd 0.996431 RIGHTS 0.001 0.002 100 Technology 02/01/2021 RVS Revasum Inc 7.91 RIGHTS 0.35 0.4 23 Technology 02/03/2021 ARN Aldoro Resources Ltd 0.132762 RIGHTS 0.01 0.225 1800 Resources 02/17/2021 FZR Fitzroy River Corp Ltd 2.5909 RIGHTS 0.12 0.165 38 Energy
The biggest deals
The biggest deal was the Bank of Queensland (ASX:BOQ) which completed a $673 million placement only last week as part of its efforts to acquire ME Bank.
It will top this up to $1.3 billion with a rights issue which it is currently completing.
Taking silver and bronze spots are high-flying battery metals stock Vulcan (ASX:VUL) and PNG-focused gold play Geopacific Resources (ASX:GPR) which raised $140 million and $120 million respectively.
The former of these stocks has grown from 18 cents to over $6 per share over the last several months.
It initially listed in 2018 as Koppar Resources and was focused on a base metals project in Norway but pivoted to a lithium project in Germany and has never looked back.
Big deals in other sectors included $50 million raisings by tech stock BetMakers (ASX:BET) and IOUpay (ASX:IOU).
BetMakers has skyrocketed from 4 cents two years ago to over 90 cents today as it has entered the US betting market. And half of its $50 million came from industry heavyweight Matthew Tripp – the co-founder of Sportsbet and BetEasy.
IOU has also skyrocketed as it has entered the BNPL space in South East Asia. Starting with Indonesia and Malaysia, it will use the proceeds to expand its digital offerings to the region.
One deal that was smaller but had a hefty impact was Bevan Slattery’s $2m investment into Rent.com.au (ASX:RNT) which has products for the rental market including bond financing and tenant checks.
Slattery bought $2 million at 5 cents per share and his endorsement of the platform sent shares as high as 30 cents in a handful of days.
The busiest brokers
The broker that has raised the most capital was Canaccord Genuity which has raised $278.56 million.
Canaccord’s deals include Vulcan (ASX:VUL) and Betmakers (ASX:BET).
Tied in second place are Jarden Partners and Macquarie which have accounted for $150 million each.
Following them are Goldman Sachs with $97 million and Bell Potter (which is listed on the ASX as Bell Financial Group (ASX:BFG)) with $94 million.
Manager Rank Vol (MM AUD) Issues Fees Table Share (%) Canaccord Genuity 1 278.56 12 6.000 17.14% Jarden Partners Ltd 2 150.92 1 — 9.29% Macquarie 2 150.92 1 — 9.29% Goldman Sachs 4 96.99 2 — 5.97% Bell Potter Securities Ltd 5 93.77 7 4.500 5.77% Euroz Hartleys Ltd 6 86.85 11 5.000 5.34% Petra Capital Pty Ltd 7 81.97 3 — 5.04% Sprott Capital Partners 8 70.00 1 — 4.31% Moelis & Co 9 60.21 1 — 3.70% Clee Capital Pty Ltd 10 52.50 2 — 3.23% Evolution Capital Advisors Pty Ltd 11 39.07 3 — 2.40% Morgans 12 35.25 2 4.000 2.17% Taylor Collison Ltd 13 33.00 4 4.000 2.03% Everblu Capital Pty Ltd 14 32.97 5 — 2.03% PAC Partners Pty Ltd 15 29.58 7 3.000 1.82% Aitken Murray Capital Partners Pty Ltd 16 28.19 3 — 1.73% Henslow Pty Ltd 17 23.75 2 — 1.46% CPS Capital Group Pty Ltd 18 18.91 6 — 1.16% Shaw & Partners Ltd 19 18.37 4 — 1.13% Hawkesbury Partners 20 15.25 1 — 0.94% Fresh Equities Pty Ltd 21 14.97 3 — 0.92% Jett Capital Advisers LLC 22 13.50 1 — 0.83% Turner Pope Investments Ltd 23 11.70 1 — 0.72% Alto Capital 24 10.00 1 6.000 0.62% EAS Advisors LLC 24 10.00 1 — 0.62% Barclay Wells Ltd 26 9.10 1 — 0.56% Peloton Capital Pty Ltd 27 8.50 2 6.000 0.52% Bridge Street Capital Partners Pty Ltd 28 8.00 1 6.000 0.49% MST Financial Services Pty Ltd 29 7.79 2 — 0.48% Conrad Capital Group Pty Ltd 30 7.26 1 6.000 0.45% Morton Securities Ltd 31 6.85 1 — 0.42% Sanlam Private Wealth Pty Ltd 32 6.83 2 — 0.42% Dundee Corp 33 6.80 1 — 0.42% Jett Capital Advisors LLC 33 6.80 1 — 0.42% Blue Ocean Equities Pty Ltd 35 6.50 1 — 0.40% Peak Asset Management 36 6.17 2 — 0.38% Prenzler Group Pty Ltd 37 6.10 1 — 0.38% Cenkos Securities 38 6.00 1 — 0.37% Sixty Two Capital Pty Ltd 38 6.00 1 — 0.37% Ashanti Capital Ltd 40 5.20 1 — 0.32% 180 Markets Ptd Ltd 41 5.11 3 — 0.31% Beer & Co Pty Ltd 42 4.30 1 — 0.26% Empire Capital Partners Pty Ltd 43 4.05 2 — 0.25% Chieftain Securities Pty Ltd 44 4.00 1 — 0.25% Gneiss Energy Ltd 44 4.00 1 — 0.25% TennysonWest 44 4.00 1 — 0.25% Viridian Capital Pty Ltd 47 3.72 1 — 0.23% Shard Capital Partners LLP 48 3.55 1 — 0.22% WH Ireland Ltd 48 3.55 1 — 0.22% KG Capital Partners Pty Ltd 50 3.15 1 — 0.19% Lodge Corporate Services Pty Ltd 51 3.00 1 7.000 0.18% Platinum Gate Proprietary Ltd 51 3.00 1 7.000 0.18% Westar Capital Ltd 53 2.70 1 — 0.17% Lazarus Corp Finance Pty 54 2.25 1 — 0.14% Merchant Group Pty Ltd 55 2.15 1 — 0.13% GTT Ventures Pty Ltd 56 2.06 3 — 0.13% Novus Capital Ltd 57 1.99 1 — 0.12% Foster Stockbroking Pty Ltd 58 1.87 1 — 0.11% LHC Mine Finance Ltd 58 1.87 1 — 0.11% First Growth Advisory 60 1.75 2 — 0.11% Pinnacle Equities 61 1.11 1 — 0.07% Pacway Capital Pty Ltd 62 0.90 1 — 0.06%
Will the ASX capital raising bull run last in 2021?
This is a question Stockhead has consistently put to money managers in recent weeks.
The general consensus is investors, both sophisticated and retail, are hungry to invest but there’s no guarantee they won’t pivot to other investment options eventually.
One was Canary Capital’s Joe Durak, who notes the equity capital markets (and by extension sophisticated investors in Australia) have shown similarly positive signs.
“It’s still early days but there still seems to be a lot of appetite around,” he said.
“Normally January would be fairly quiet, but there’s still a lot of IPOs coming through and obviously strength at the small/micro cap end of the market.”
Durak also noted that virtual meetings, a trend accelerated by COVID-19, has made it easier for companies to raise money.
Another was Auctus’ (ASX:AVC) Campbell McComb who told Stockhead last week some of Auctus’ clients were hungry to invest but had perceptions public markets may be overvalued.
“I think investors are certainly keen on those sort of 3-4 year transactions where there’s some solid, 20+ per cent returns,” he said.
“They’re looking at equity markets more generally and perhaps looking at them as a touch overvalued.
“The multiples paid in the private market seem to be lower than listed market so there’s greater value and therefore greater return across that 2-5 year frame.
“So we’ve seen quite a bit of demand across a lot of our funds and we expect that to continue over the next year or two.”
At Stockhead, we tell it like it is. While IOUpay is a Stockhead advertiser, it did not sponsor this article.
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