Blinklab has been the best ASX IPO performer this year
\nLife360 is the latest ASX company to announce plans for a dual listing overseas
\nAnd here are two upcoming IPOs on the ASX<\/p>\n
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As the dry spell for local capraising and IPOs continues, more Australian companies are exploring dual listing options overseas.<\/p>\n
In January, Westgold Resources (ASX:WGX)<\/a><\/strong> became the latest ASX company to dual list in the US market. Westgold\u2019s shares commenced trading on the OTCQX Best Market (OTCQX)<\/em> under the symbol \u201cWGXRF\u201d.<\/p>\n Westgold\u2019s decision came as its North American investor base has gradually grown to around 23% of its share register. The company is now gearing up to list on the Toronto Stock Exchange (TSX)<\/em> after merging with Canada\u2019s Karora Resources earlier this year.<\/p>\n Another ASX company that\u2019s prepping itself to dual list in the US is Life360 (ASX:360)<\/a><\/strong>, the $3bn company behind a popular family-tracking app.<\/p>\n Life360 announced on 10 May that it was gearing up to go to New York to list its common stock on the Nasdaq Global Select Market<\/em> under the symbol \u201cLIF\u201d.<\/strong><\/p>\n \u201cThe company, with headquarters in the San Francisco area and pre-existing SEC reporting obligations, views a US IPO and increased exposure to US investors as a natural next-step in its growth,\u201d said a statement released to the ASX.<\/p>\n Life360 confirmed that its CHESS Depositary Interests (CDI) \u2013 which represent underlying shares of common stock on a 3 CDIs-for-1 share of common stock basis \u2013 will remain listed on the ASX.<\/p>\n The main benefit of a dual listing is that companies can reach a bigger audience, particularly as the US is the biggest capital market in the world.<\/p>\n This means more chances to raise capital and boost liquidity of the stock.<\/p>\n Listing on two exchanges also lets more investors buy and sell shares, and exchanges in the US often have a lot more active investors, which can be a big advantage.<\/p>\n \u00a0<\/p>\n And now\u2026<\/strong><\/p>\n Code Name IPO Price Current Price Return Market cap Listing date TEA Tasmea $1.56 $1.67 7% $363,651,101 29\/04\/2024 FNR Far Northern Resources $0.20 $0.17 -18% $5,898,061 12\/04\/2024 BB1 Blinklab $0.20 $0.38 88% $21,407,301 04\/04\/2024 LMS Litchfield Minerals $0.20 $0.21 2% $5,650,312 15\/03\/2024 MAC Metals Acquisition $16.00 $19.60 23% $604,010,574 20\/02\/2024 WAG Australian Wealth Advisors $0.25 $0.34 36% $25,284,100 16\/02\/2024 I88 Infini Resources $0.20 $0.17 -15% $6,457,165 15\/01\/2024 KM1 Kali Metals $0.25 $0.42 66% $31,681,969 8\/1\/2024 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n There\u2019s only been 8 ASX IPO listings in 2024.<\/p>\n The latest one was that of Tasmea (ASX:TEA)<\/strong><\/span><\/a>, a company that provides maintenance and engineering services across mining & resources, oil & gas, wastewater, power & renewable energy, and defence & infrastructure sectors.<\/p>\n Exciting? No. Dependable? Yes. Currently, Tasmea owns 18 businesses and has engorged its revenues via six acquisitions over in the last year.<\/p>\n Meanwhile, the best IPO performing stock this year is Blinklab (ASX:BB1)<\/a><\/strong>, a $20m+ market capped mental health medtech company that has transformed a regular mobile phone into a tool for neurobehavioral evaluations.<\/p>\n Blinklab\u2019s app allows for quick and remote testing, helping research on neurodevelopmental and neurodegenerative conditions like schizophrenia, autism, ADHD, and different types of dementia.<\/p>\n The AI-driven smartphone app was developed in collaboration with the big brains at Princeton University, and is primed to grab a share of the market worth a staggering $700 billion in the US alone.<\/p>\n \u201cWe can bring that diagnostic age to a lower age and we can totally disrupt the way these kids have been treated,\u201d said BlinkLab chairman Brian Leedman at a recent investor lunch, adding:<\/p>\n \u201cThis is the world\u2019s first digital application on a smartphone solely on a smartphone that can analyse a child\u2019s face and diagnose autism or ADHD, simply by looking at their reflex action.\u201d<\/p>\n Read more: From high-tech cancer fighters to AI-wielding crime busters, these are some of the most innovative firms on the ASX<\/a><\/strong><\/em><\/p>\n \u00a0<\/p>\n All dates are sourced from the ASX website. They could change without notice.<\/strong><\/p>\n \u00a0<\/p>\n Expected listing: May 15, 2024<\/strong> The ASX hopeful is keen to be one of the few pure play silver companies on the bourse.<\/p>\n Sun Silver has reason to be confident about its flagship Maverick Springs project in Elko County, Nevada.<\/p>\n The project hosts a JORC-compliant inferred resource of 292Moz of silver equivalent at an average grade of 72.4g\/t within the Carlin trend \u2013 a deep penetrating fault that is known for Permian host rocks great for mining and processing.<\/p>\n The immediate region is also known to have a number of operating gold and silver mines including Coeur\u2019s Rochester mine. Nevada is also well known around the world as a top tier mining jurisdiction.<\/p>\n Read more here: Sun\u2019s shining on this pure play silver company seeking admission to the ASX<\/a><\/strong><\/em><\/p>\n \u00a0<\/p>\n Expected listing: June 4, 2024<\/strong> Resouro is developing rare earth elements, titanium, and gold deposits in Brazil.<\/p>\n The Novo Mundo project covers over 167km2 of the highly prospective Alta Floresta Gold Belt. The province has numerous small scale mining operations and at least 3 large mines are under development.<\/p>\n Novo Mundo released high-grade drill results from its 2022 fall exploration program \u2013 Hole 10 returned an impressive 16.21m @ 2.97g\/t gold (Au) at a depth of 55.9m.<\/p>\n The Tiros Rare Earth Elements and Titanium\u00a0project meanwhile is located within the Capacete Formation in Minas Gerais, the mining powerhouse of Brazil.<\/p>\n The Tiros licenses cover an area of approximately 450km2, and encompass the thickest portions of the prospective formation representing the areas with the greatest exploration potential.<\/p>\n Approximately 24% of the content of rare earth elements within the Tiros trend is comprised of Neodymium, Praseodymium, and Dysprosium.<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post IPO Wrap: Life360 becomes latest ASX company to look at New York listing; and 2 upcoming local IPOs<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Here\u2019s how the 2024 ASX IPOs performed<\/h2>\n
Upcoming ASX IPO listings<\/h2>\n
Sun Silver (ASX:SS1)<\/strong><\/span><\/h2>\n
\nIPO:$13 million at 20 cents\/share<\/strong><\/p>\nResouro Strategic Metals (ASX:RAU)<\/span><\/h2>\n
\nIPO:$8 million at 50 cents\/share<\/strong><\/p>\n