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Company floats explained

Last 20 companies that have listed on ASX and NSX
COMPANY	CODE	DATE OF LISTING
STAR MINERALS LIMITED	SMS	27 Oct 21
GQG PARTNERS INC.	GQG	26 Oct 21
EASTERN METALS LIMITED	EMS	25 Oct 21
LYKOS METALS LIMITED	LYK	21 Oct 21
ITECH MINERALS LTD	ITM	21 Oct 21
RAM ESSENTIAL SERVICES PROPERTY FUND	REP	20 Oct 21
ACTIVEPORT GROUP LTD	ATV	20 Oct 21
ALVO MINERALS LIMITED	ALV	20 Oct 21
NICKELSEARCH LIMITED	NIS	18 Oct 21
EQUINOX RESOURCES LIMITED	EQN	13 Oct 21
RESILIENCE MINING MONGOLIA LIMITED	RM1	12 Oct 21
DIABLO RESOURCES LIMITED	DBO	12 Oct 21
MINERALS 260 LIMITED	MI6	12 Oct 21
RECHARGE METALS LIMITED	REC	11 Oct 21
C29 METALS LIMITED	C29	01 Oct 21
WEST COBAR METALS LIMITED	WC1	01 Oct 21
MITRE MINING CORPORATION LIMITED	MMC	30 Sep 21
FORRESTANIA RESOURCES LIMITED	FRS	30 Sep 21
TOUCH VENTURES LIMITED	TVL	29 Sep 21
DALAROO METALS LTD	DAL	28 Sep 21

See below to download
details of floats 2003-2019

A company floats when it lists on the stock exchange and sells its shares to the public by way of a prospectus.

What is a prospectus?

Listing or “going public” means the company has to comply with the stock exchange’s listing rules when it floats and issue a prospectus. The prospectus is an invitation to the public to buy shares in the company and thus raise money for working capital or acquisitions. It explains in some detail what the company intends to do with the money it raises.

Floating a company on a stock exchange is costly and complex and many companies avoid it to some extent by merging with an existing entity that has failed. They thus gain “back door entry” to the exchange.

Should I invest in a new float?

Not so long ago a specialist website service monitored new company floats over a number of years and concluded investors would be better off avoiding new floats. We agree unless you are an experienced investor. Pacific Brands, Boart Longyear and Repco are examples of companies that were leveraged up and listed at high multiples, before subsequently collapsing.

Getting advice?

The “average” investor should be wary of investing in start up and small companies. Stock exchanges serve as a nursery for small companies, some of which prosper and grow, while many others fall by the wayside. If you are contemplating investing in a new company, we recommend you research it thoroughly first and obtain investment advice from a broker.

Downloading details of floats?

We have been following the outcomes of floats on ASX since 2003. Details are available in Excel files to members and prepaid members. These files provide the following data for each company:

Float date

Company

ASX Code

Float day opening price

Float day closing price

Date of first name change

Events subsequent to float (to 2014)

Status early January 2017

Current ASX Code

(Note: all files are for the calendar year and were last updated early January 2020)

Please click on the appropriate link below:

2003	2004	2005	2006	2007	2008
2009	2010	2011	2012	2013	2014
2015	2016	2017	2018	2019	2020
All to 2020

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