The Infratil Ltd (ASX: IFT) share price is on watch after the company revealed a 23.6% quarterly jump in the independent valuation of its CDC Data Centres interest, reaching a midpoint of A$18.5 billion. The uplift was fuelled by rapid growth in CDC’s contracted capacity to over 1GW and a bigger pipeline out to FY40.

What did Infratil report?

• CDC’s independent valuation rose by A$3.5 billion during the quarter to a midpoint of A$18.5 billion.
• Infratil’s 49.72% share in CDC is now valued at A$9,213 million, up from A$7,454 million in March 2026.
• Contracted capacity at CDC increased to over 1GW, including a new 555MW contract and further expansion in New Zealand.
• Leasable operating capacity lifted by 90MW to 550MW, with the pipeline to FY40 now 3.9GW, up from 2.6GW.
• Net debt at CDC increased to A$5,976 million, supporting its accelerated build program.

What else do investors need to know?

CDC’s build program is running faster to deliver the surge in contracted capacity expected by FY29, with under-construction leasable capacity doubling this quarter to 810MW. The future pipeline was extended to FY40, adding an extra 1.3GW of future build capacity, particularly targeting Australian markets to meet pressing customer demand. The independent valuation also factored in a 25 basis point increase in the risk-free rate, partly offsetting the positive cashflow momentum. CDC recently issued a A$1 billion hybrid capital bond and received a Moody’s Baa2 (Stable) credit rating, supporting funding diversification.

What’s next for Infratil?

Looking ahead, Infratil expects CDC’s growth momentum to continue, with ongoing investment in data centre capacity aimed at supporting new and existing contracts out to FY40. By rolling forward pipeline disclosures and redefining capacity metrics to focus on leasable, revenue-generating potential, Infratil is aiming to match evolving customer needs and capitalise on data centre sector demand. As CDC accelerates expansion across Australia and New Zealand, investors can anticipate regular updates as projects move from planning to operation. Interest rate and funding trends will remain key influences.

Infratil share price snapshot

Over the past 12 months, Infratil shares have risen 23%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.

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The post Infratil shares on watch after CDC Data Centres’ valuation climbs appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The pattern is consistent enough that it deserves attention. 

The first nine companies to debut on the ASX in 2026 are all now trading in negative territory, down 26% on average from their issue prices. 

That is not bad luck.

Instead, it reflects a well-documented, repeating pattern in IPO markets, one that Australian retail investors tend to learn the hard way.

What actually happened to the first nine ASX IPOs

The most instructive example is SkinKandy Ltd (ASX: SK1), Australia’s largest specialty piercing and jewellery retailer. SkinKandy debuted in May after a ~$160 million IPO.

The company listed with proper business credentials: more than 100 studios across Australia and New Zealand, a profitable track record, and ambitious international expansion plans.

The stock popped on day one, as most ASX IPOs do. Then it faded.

KTEK Aerosystems Ltd (ASX: KTK), the Israeli-founded Perth-headquartered defence composite manufacturer, tells a similar story.

KTK debuted on a strong business tailwind: supplying airframe components to defence contractors including Elbit Systems. KTK’s IPO came at a moment where defence spending was surging globally.

Again, a day-one pop, followed by steady drift below the issue price.

Kaoko Metals Ltd (ASX: KAO), a copper explorer in Namibia with drill-ready projects, also joined the list of underwater debutants despite debuting into a strong copper price environment.

The mechanics of why IPOs so often disappoint after debut

The day-one pop is well documented. But it is consistently a poor guide to long-term returns.

According to updated long-run IPO statistics, the average newly listed company underperforms its peers by approximately 2.1% per year over the five years following its debut, regardless of how strongly it opens on day one.

The problem is that IPO pricing is set by investment banks whose job is to maximise the proceeds for the company being floated. Their job is not to find the price that is most attractive for incoming shareholders.

That means IPOs are more likely to be priced at or above fair value than below it.

Furthermore, the lock-up periods that prevent insiders and pre-IPO investors from selling typically expire in the months following a listing. This then creates persistent selling pressure over the longer-term.

The debut pop is not the same as a buying opportunity

The most common mistake retail investors make with IPOs is confusing the excitement of a debut with evidence that the business is worth buying at that price.

A stock rising 30% on day one tells you that demand exceeded supply at the issue price.

It tells you nothing about whether the issue price was fair relative to the company’s intrinsic value.

In fact, a large day-one pop is often a signal that the investment bank priced the deal too cheaply. This is a gift to institutional investors who were allocated shares at the IPO price, not a gift to retail investors buying in the open market at 30% above that price.

The investors who did well from the 2026 ASX IPO class so far are the institutional investors and sophisticated pre-IPO holders who received allocations at the issue price, not retail investors who chased the opening pop.

What this means for investors considering July’s pipeline

July is set to be the busiest month for ASX IPOs in 2026, with nine more companies scheduled to debut. These future IPOs include an AI-focused listed trust, a rare earths spin-off, and a large commercial construction float.

The lesson from the first nine is not to avoid IPOs entirely. But it is to apply the same analytical discipline to a new listing that you would apply to any other investment.

Ask whether the business model is strong, whether the price being asked is fair, and whether you are being offered a share of the upside that makes the risk worthwhile.

Most of the time, waiting three to six months for the post-IPO dust to settle produces a better entry point than chasing the debut excitement.

Foolish takeaway for ASX IPOs

The first nine ASX IPOs of 2026 are all underwater, down 26% on average.

That is not a coincidence or a run of bad luck. But it does reflect the reality that IPOs are priced to serve sellers, not buyers.

Patient investors who wait for the post-debut hype to fade before assessing a new listing at a more rational price tend to do better over time than those who chase the debut pop.

The post The first nine ASX IPOs of 2026 are all trading in the red. Here is what that tells investors. appeared first on The Motley Fool Australia.

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Motley Fool contributor Mark Verhoeven has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

The Greatland Resources Ltd (ASX: GGP) share price is in focus today after the miner reported record gold production for FY26, with 328,986 ounces produced—exceeding guidance by 6%—and a cash position of $1,289 million at period end.

What did Greatland Resources report?

• Quarterly production: 79,099 ounces gold (Au), 3,573 tonnes copper (Cu)
• Full-year FY26 production: 328,986oz Au (up 6% on top-end guidance), 14,594t Cu
• Full-year sales: 326,859oz Au, 14,729t Cu
• Cash at 30 June 2026: $1,289 million and zero debt
• $81 million net cash build over the quarter, after capex and $87 million tax paid
• Gold price exposure maintained with downside protection via put options

What else do investors need to know?

The June 2026 quarter saw Greatland Resources generate solid cash flow, ending the period with a strengthened balance sheet and no debt. An additional $20 million in sales was completed late in the quarter, with cash to be received post-period. All-In-Sustaining-Cost (AISC) details are yet to be finalised and will be announced in the company’s full June quarterly report later in July, alongside a management webcast. Greatland also highlighted its full exposure to higher gold prices while retaining some price protection through put options.

What’s next for Greatland Resources?

Investors can expect the detailed June 2026 Quarterly Activities Report later this month, which will include finalised cost data and further operational detail. Management maintains a positive approach with ongoing development of the flagship Havieron gold-copper project and a robust exploration pipeline in the Paterson Province. With a cashed-up balance sheet and substantial recent production outperformance, Greatland is well positioned to pursue further growth and exploration throughout FY27.

Greatland Resources share price snapshot

Over the past 12 months, Greatland Resources shares have risen 75%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

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The post Greatland Resources posts record FY26 gold output appeared first on The Motley Fool Australia.

More reading

• Genesis Minerals proposes Vault merger to create gold powerhouse
• Capricorn Metals hits upper end of FY26 gold production guidance, advances project expansions
• Regis Resources hits top end of FY26 guidance
• Infratil shares on watch after CDC Data Centres’ valuation climbs
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.