Last-Minute IPO Rush May Save Australia’s Awful Year for Deals
- At least 12 companies are planning for IPO before end of year
- Australia saw more than $1.5 billion of IPOs pulled this year
Photographer: David Moir/Bloomberg
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The Australian Securities Exchange is counting on a pipeline of at least a dozen companies to help salvage what is shaping up as the market’s worst year for initial public offerings since the global financial crisis in 2008.
Lightweight wheel manufacturer Carbon Revolution Ltd. and mining explorer Godolphin Resources Ltd. are among companies targeting to raise A$371 ($253 million) combined before the end of this year, according to pre-listing documents on the ASX website. Those eyeing share sales also include Aerial mapping company Aerometrex Ltd. and agricultural biotech company Terragen Holdings Ltd.