4 of the best ASX IPOs in the last decade!

In this article, we recap the best ASX IPOs in the last decade.

Investing in IPOs is a big risk because there is no guarantee things will go well. It is always a big adjustment to listed life, even for well-established businesses, because of the level of scrutiny. Things that are outside the company’s control can go wrong , even if there were no IPO red flags. But if things go well, the returns can be substantial.

The IPO market has been flat for a couple of years, or at least it was until Guzman y Gomez came along and outperformed. It is hoped that this will translate in a stellar year for IPOs in 2025. But Guzman y Gomez’s performance pales in comparison to some of these companies below.

Best ASX IPOs

A2 Milk (ASX:A2M) – up 764%

OK, this was not technically an IPO. This company was already listed on the NZX and dual-listed in Australia without raising fresh capital. But had you bought in at 56c per share in mid-2015, you would have an 869% return today, even with the company down over 70% from its all time highs in mid-2020. A2M manufactures and exports milk and infant formula all around the world, but made significant money from China – until the market was hit by the pandemic.

WiseTech (ASX:WTC) – up ~3800%

This company rode the 2010s Tech Wave and largely avoided the 2022 Tech Wreck because it is in arguably the best sector to be as a Tech company, i.e. the logistics space – a sector that arguably needs WiseTech’s products more than ever considering supply chain disruptions. It listed at $3.35 per share and is now over $130, even with occasional volatility such as the scandal surrounding Richard White that led to his departure from the CEO share.

WiseTech’s main product is CargoWise One, a cloud-based end-to-end logistics execution platform that freight forwarders and other logistics companies can use to manage their businesses. Over 18,000 logistics organisations across 150 countries rely on WiseTech software to facilitate the movement and storage of all types of goods, including 24 of the top 25 global freight forwarders and 41 of the top 50 global Third Party Logistics Providers.

Telix Pharmaceuticals (ASX:TLX) – up 3400%

The dream of every biotech IPO is to take a device or drug through the clinic and onto the market. Telix has literally lived that dream and after listing at $0.65 per share, is now over $22. This doesn’t even tell the full story given capital raises completed since 2017. It was capped at $128m in 2017 and is now $7.5bn – nearly 6000%. Take a bow.

Telix’s flagship product is Illuccix, which is used for the imaging of prostate cancer and is FDA approved. Its sales have skyrocketed since entering the US market. It reported total revenue of A$22.5m from global sales of Illuccix in the first ten weeks following first commercial sales.

Johns Lyng Group (ASX:JLG) – up 300%

This one is off its all time highs, but we will include it anyway because it appears to be turning a corner. After all, when construction and infrastructure companies are dying like flies or facing enormous backlogs of work due to supply chain issues, any company that is not falling over seems an attractive investment.

JLG is a different company because it repairs insured properties after damage, including weather and other impact incidents. It has a long term-track record of growth with a 25% revenue CAGR since 2004, soon after current CEO Scott Didier bought it outright. FY22 and FY23 were a particularly outstanding year for the company, due to an increase in catastrophe activity. FY24 was not that bad because it still made $1.16bn in revenue and a $63.3m profit, the latter figure being actually ahead of the year before.

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