These 3 ASX shares to IPO recently are struggling

MyDeal.com.au Ltd (ASX: MYD) and 2 other ASX shares to IPO recently are struggling in their first weeks. Let's take a look.

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Many ASX shares from retail and tech sectors have flopped in recent initial public offerings (IPO). Here are three ASX shares that have failed on open or are struggling to hold onto any gains.  

MyDeal.com.au Ltd (ASX: MYD)

MyDeal is an Australian e-commerce group that has successfully established an Australian online retail marketplace specialising in household goods such as furniture and homewares. MyDeal has more than 800 active sellers and more than 5 million products across 2,000 categories. More than 1 million products were sold in FY20 on the platform. 

 The IPO was priced at $1.00 with an indicative market capitalisation of $258.8 million at the offer price. While the MyDeal share price went as high as $2.20 on its ASX debut, it failed to hold these gains and is currently $1.26 at the time of writing. 

Adore Beauty Group Ltd (ASX: ABY

Adore Beauty is Australia's number one pureplay online beauty retailer. The company is an integrated content, marketing and e-commerce retail platform that partners with beauty and personal care brands to introduce customers to a large range of products to suit a variety of needs and preferences.. Education and entertainment are also core elements of Adore Beauty's offering. Its platform is a destination for beauty consumers even when they are not seeking to purchase items. 

The IPO offer price was $6.75 per share with an indicative market capitalisation of $635.3 million at the offer price. The Adore Beauty share price opened at a high of $7.40 however closed at $5.80 on the same day. It is currently hovering around these $5.70 lows. 

Zebit Inc (ASX: ZBT

Zebit is a California-based e-commerce company that is dedicated to making a fundamental change in the lives of Financially Underserved Consumers by giving them access to a broad set of products and the ability to pay for those products in instalments over six months. 

Zebit operates an e-commerce platform and currently offers more than 90,000 products across more than 25 product categories such as electronics, appliances, home décor, furniture and beauty. Registered users, who are consumers that have been underwritten and accepted by the company's proprietary fraud detection and credit management systems, can make purchases on the Zebit Marketplace and pay for them in instalments. 

The IPO offer price was $1.58 per share with an indicative market capitalisation of $149.0 million at the offer price. The Zebit share price opened near its offer price at $1.50, however sunk more than 30% to close at $1.05 in just one day. Its shares have since made a small recovery but still at a significant discount to its IPO offer price. 

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