2016 IPO Review Report: Momentum Continues

April 12, 2017

2016 was an active year for IPO’s on the ASX, with 98 listings raising $8.5 billion and a total market capitalisation of $18.6 billion. The ASX was also busy issuing regulatory changes to key admission rules after seeking consultation from the market.

Pitcher Partners’ IPO report covers the IPO’s which occurred during the 2016 calendar year. Pitcher Partners analysis of the 98 listings showed the majority of IPO’s were from companies with a market capitalisation below $50 million, which accounted for 51% of all listings, whereas the majority of capital raised came from companies with a market capitalisation above $250 million, contributing 82% of total capital raised.

Other key findings of Pitcher Partners’ 2016 IPO report:

  • The average share price performance was 9.5%
  • Sector performance was diverse. Information technology was the most active sector with, 27% of total IPO’s. Real estate companies raised 30% of total capital. The financial sector accounted for 30% of the total market capitalisation.
  • There was a rush to list towards the end of the year, with 40% of listings occurring in the last quarter compared to 14% in the first quarter.
  • New South Wales was the dominant State, with 31% of total listings and 44% of capital raised.
  • The ASX experienced significant cross border activity, with 17 international companies listing during the year, which accounted for 29% of total capital raised and 38% of total market capitalisation.

2017 Outlook

Pitcher Partners’ anticipates the IPO momentum to continue in 2017. This has already being an active year, with 21 IPO’s as at the end of February, a 145% increase from the same period in 2016. Technology is expected to remain a dominate player in the IPO landscape, with investor interest in the sector remaining strong. The commodity price rally will likely trigger greater IPO activity with earl y signs already visible from the level of activity by the resource sector in the December quarter of 2016 and the seven listings as at the end of February 2017. 

Download the full report here 

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