The last few months have been jam-packed with new companies hitting the ASX boards after completing their IPOs.
Here’s a summary of a few recent IPOs and how they have performed since listing:
Adore Beauty Group Limited (ASX: ABY)
The Adore Beauty share price has been a disappointing performer since listing on the Australian share market. The online beauty products retailer’s shares ended the week at $5.29, which is down almost 22% from its IPO price of $6.75.
This is despite the company recently revealing that it is on course to outperform its prospectus forecast for the first half of FY 2021. It is now expecting revenue to come in at approximately $95.2 million for the six months, which is 7% higher than its guidance of $89 million.
Management also advised that the uplift in revenue is expected to have a positive impact on its operating earnings forecast for the half. Though, no guidance has been provided at this stage.
MyDeal.com.au Limited (ASX: MYD)
The MyDeal.com.au share price ended the week at $1.22. This means the ecommerce company’s shares are up 22% from its IPO price of $1.00.
As with Adore Beauty, MyDeal’s operational performance has been very strong since listing. It recently released a trading update for November, which revealed record gross sales of $30 million for the month. This was up 192% year on year and 63% month on month.
In addition to this, the company advised that its active customers grew to a record 778,867 at the end of November. This was more than triple what it had a year earlier. And pleasingly, more and more customers are returning for additional purchases. During the month of November, 52.9% of all transactions were from returning customers. This was up from 49.7% in the first quarter of FY 2021.
Nuix Limited (ASX: NXL)
The Nuix share price has been an exceptionally strong performer since listing on the ASX boards. The analytics software provider’s shares ended the week at $8.23, which is 55% higher than its offer price of $5.31 per share.
Nuix is a leading investigative analytics and intelligence software provider. This software has been used by customers around the world to process, normalise, index, enrich, and analyse data from a multitude of different sources. This includes for a number of important investigations such as the Panama Papers, the Banking Royal Commission, organised crime rings, corporate scandals, and terrorist activities.
Judging by its post-IPO rise, investors appear to believe its shares were great value based on its positive long term growth outlook.
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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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Here’s how Nuix (ASX:NXL) and these recent IPOs are performing since listing appeared first on The Motley Fool Australia.
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