Here's how Adore Beauty (ASX:ABY) and these new IPOs have fared since listing

Here's how Adore Beauty Group Limited (ASX:ABY) and these IPOs have fared since listing on the Australian share market this month…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The month of October has certainly been a very busy one for IPOs.

A number of shares have completed their IPOs this month and hit the ASX boards. Some more successfully than others.

Here's a summary of recent IPOs and how they have fared since listing:

Adore Beauty Group Limited (ASX: ABY)

The Adore Beauty share price has had a difficult start to life on the ASX boards. This afternoon the online beauty retailer's shares are trading at $5.88. This represents a 13% decline from its IPO price of $6.75. 

Adore Beauty raised $269.5 million from its IPO, giving it a market capitalisation of $635.3 million. The company intends to use the proceeds of its IPO to support its growth strategy and future growth opportunities. This includes growing its brand awareness, strengthening its offering, and expanding into new markets and adjacent categories.

Aussie Broadband Limited (ASX:ABB)

The Aussie Broadband share price has been a very strong performer since completing its IPO. On Tuesday afternoon the internet provider's shares are fetching $1.89. This is up a sizeable 89% from its IPO listing price of $1.00.

Aussie Broadband listed on the Australian share market after raising approximately $40 million through a partially underwritten initial public offering. The funds raised are going to be used predominantly on the deployment of a dark fibre network.

CleanSpace Holdings Limited (ASX: CSX)

The CleanSpace share price has also been a strong performer since listing on the Australian share market. The shares of the designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets are trading at $6.88 this afternoon. This is up an impressive 56% from its listing price of $4.41.

CleanSpace's IPO raised a total of $131.4 million. Though, only $20 million of this was primary capital. The remainder is for long term shareholders to realise some of their investments.

MyDeal.com.au Limited (ASX: MYD)

The MyDeal.com.au share price is trading at $1.32 this afternoon. While this is notably higher than its IPO price of $1.00, it is materially lower than its high. The online retail marketplace provider's shares rocketed 120% higher on their first day on the ASX boards to $2.20.

MyDeal raised $40 million from its IPO, which comprises $35 million for the company and $5 million for certain existing shareholders. It intends to use the proceeds to drive future growth. This includes growing its private label business, investing in its proprietary technology, and investing in advertising to grow its customer base and brand.

Zebit Inc (ASX: ZBT)

The Zebit share price has had a disastrous start to life on the ASX boards. This afternoon the US-based e-commerce company's shares are changing hands for 97.5 cents. This is down 38% from its IPO price of $1.58.

The California-based company raised A$35 million, which it plans to use to rapidly accelerate its growth in North America. Zebit markets itself as the Amazon for the under-served, with a built in buy now pay later platform that provides credit to those that cannot get it elsewhere.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX 200 takes the latest RBA interest rate verdict in stride

The ASX 200 looks to have shaken off today’s RBA interest rate call.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A miner stands in front oh an excavator at a mine site
Broker Notes

Broker says buy the dip on ASX 200 uranium share with 69% upside

Shaw and Partners says this ASX uranium stock is trading at an attractive price point right now.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »

Woman on a swing at a beach, symbolising passive income.
Dividend Investing

Overinvested in Fortescue shares? Here are two alternative ASX dividend stocks

Let’s unearth some other passive income opportunities.

Read more »