Canterbury gets off to uninspiring start.


After quite a wait, Canterbury Resources Limited (CBY) has joined the ranks today, opening at 25 cents vs the IPOs 30 cent ask.

It could be worse, but it’s not exactly the type of start we like to see to an IPO, but given the delays it’s hardly surprise.

Canterbury first lodged a Prospectus all the way back in September last year and ended up with with an unusually high 5 supplementary documents before finally making it to market.

African Gold showed us there’s still interest in Resource stocks, but interest appears to be quite low in this one. We’ve updated the 2019 Scorecard to make it easier to see if this one lifts and we’ll keep an eye on it over the course of the day and update as necessary.

EDIT: Looks like it clawed some back this afternoon, to finish just short of the ask on day 1.

AltoStratos drops scheduled date, AXS misses its own.


Originally set for an early March go live, AltoStratos Holdings (ATO) is now listed as TBA on the upcoming IPOs list.

Similarly, all indicators are that AXS Group (AXS) will not go live today as scheduled today. We generally see a few clear signs that a company will list as scheduled and we’re not seeing any of those at present.

AXs opened in October and still appears to be open via OnMarket, that’s a very long time for an IPO to still be accepting buy in and may indicate lack of interest, but as always its’s best to do your own research.

Candy Club serves up a small treat.


It might not have set the market on fire, but Candy Club (CLB) did managed to give us a taste of what might be when it went live around 11am this morning.

As with many IPOs, CLB missed its first go live date with many speculating the offer was under subscribed. Despite the initial delays, shares began trading today at 21 cents, a 5% gain over the IPO price.

Look for gains later on with this one as the funds raised under the Offer will be used to scale both the B2C Business and the B2B Business, hire key employees, purchase automation equipment and for general corporate purposes.

How sweet will it get? Keep tabs on the 2019 Scorecard to find out.

African Gold wins hearts on Valentines day.

African Gold.jpg

African Gold (A1G) has given lovers of IPOs exactly what they wanted this Valentines day, posting excellent day 1 gains as trade opened on the ASX.

Asking the requisite 20 cents, prices peaked as high as 40 cents before settling to 30 cents at close of trade, a nice gain regardless of whether you jumped out early or made the call to sit tight.

There’s nothing overly exciting planned for the proceeds of the IPO, fund some exploration, pay some bills, the usual - that’s not exactly bad news though.

We’ve updated our Scorecard so you can keep tabs moving forward but we’d love to know what your call was, bag the Stag or Hold?

Uniti sends strong initial signal at open.


Fixed wireless broadband provider Uniti Wireless (UWL) created some excitement as it joined the ASX at 11am this morning, but it remains to be seen if initial enthusiasm will carry through to the afternoon and into the future.

Opening at 33 cents, 32% above the IPOs ask of 25 cents, initial sentiment looked good, but prices quickly began to decline and currently sit at just 23 cents with almost 2 million in shares having changed hands.

Uniti propose to use funds from its IPO to acquire the entire issued capital of FuzeNet Pty Ltd, a Retail Service Provider dealing in non-NBN fibre.

A place holder has been added the the 2019 Scorecard, data should begin to flow through on that shortly.