The initial public offering (IPO) market has thrown up some interesting businesses so far in 2019 and judging by some of the share price performances, it's fair to say that investors have been treated to some hits and misses.
Three IPOs that have performed extremely well since listing are listed below. Here's how they have performed:
The Invex Therapeutics Ltd (ASX: IXC) share price last traded at $1.05, which means that it has gained a massive 162% since its 40 cents per share IPO at the start of the month. Investors appear to believe the biopharmaceutical company has a major opportunity with its focus on treatments for neurological conditions derived from or involving raised intracranial pressure, such as Idiopathic Intracranial Hypertension, acute stroke, and traumatic brain injury. One person that appears optimistic on the company's prospects is Fortescue Metals Group Limited (ASX: FMG) chairman Andrew Forrest. Mr Forrest is known to have been an early backer of the company.
The Next Science Ltd (ASX: NXS) share price closed the day at $3.90 on Tuesday. This is a whopping 290% higher than the medical technology company's listing price of $1.00 per share in April. Investors appear to believe that the company's chronic wound treatment technology has a lot of potential. Next Science has four FDA cleared products currently available in the U.S. market to treat and manage surgical site infections and chronic wounds.
The PointsBet Holdings Ltd (ASX: PBH) share price last traded at $2.74, which is 37% higher than its June listing price of $2.00. PointsBet is a corporate bookmaker which offers innovative sports and racing betting products and services direct to clients via its scalable cloud-based technology platform. Its IPO raised $75 million, which will be used primarily to fund marketing, customer acquisition, and software and platform development. Investors appear to believe this has positioned PointsBet well to grow its market share in the Australian and U.S. markets over the coming years.
