The so-called “Santa Rally” is somewhat of an urban myth in which stock markets rally in the lead up to Christmas.
While a stock rally remains to be seen, the Christmas cheer is certainly overflowing to IPOs with 6 companies looking to take the plunge - despite a drought of new listings in 2023.
Combined, these companies would have raised $128 million in capital, which means at least some investors are feeling merry and bright this Christmas.
So which companies are set to be the final debutants to the ASX for 2023?
11 December
LTR Pharma (ASX:LTP)
An erectile dysfunction nasal spray company, LTR Pharma will be hoping shares go “up” when the company lists on 11 December.
LTR Pharma is aiming to raise $7 million at an issue price of $0.20.
17 December
Fuse Minerals (ASX:FSE)
A metals explorer with assets in Western Australia, Fuse Minerals is aiming to raise $10 million at an issue price of $0.20.
Enlitic (ASX:ENL)
A medical AI and analytics company, Enlitic is one of the bigger debutants with a market capitalisation of circa $300 million.
Enlitic is aiming to raise $35 million at an issue price of $0.83.
21 December
Brazilian Rare Earths (ASX:BRE)
Like the name suggests, Brazilian Rare Earths is an exploration company developing the world class Rocha da Rocha Rare Earths Province in north west Brazil.
The company is aiming to raise $50 million at an issue price of $1.47.
22 December
The Australian Wealth Advisory Group (ASX:WAG)
A diversified financial services firm that “specialises in investing in wealth advisory businesses”, Australian Wealth Advisory Group is raising $5 million at an issue price of $0.25.
Kali Metals (ASX:KM1)
A lithium explorer with assets in WA, VIC and NSW, the company says it’s already reached its maximum subscription amount of $15 million at an issue price of $0.25.
Kali Metals is a spin-out of Kalamazoo Resources’ (ASX:KZR) lithium assets across the three states.
So, will investors stuff their stockings with some fresh stock?
Let’s hope Santa sprinkles a little bit of reindeer dust on the ASX to make it a Merry Christmas for all.