The first IPOs in 2023 are coming to market. Will this year be different than 2022?
Nick Sundich, January 13, 2023
The first couple of IPOs in 2023 have listed this week. The ASX IPO market in 2022 was essentially non-existent outside of resources companies – some performed, while others were flat. Will this pattern continue and will we see more IPOs in sectors other than resources this year?
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
The first couple of listings fail to excite, will the third be better?
The first IPO of 2023 was rare earths and mineral sands developer VHM (ASX:VHM). The company owns the Goschen project in Victoria and is targeting production for 1HY25. It listed on Monday, but has underperformed all week, currently trading 20% below its $1.35 IPO price.

VHM (ASX:VHM) share price chart (Graph: TradingView)
Listing on Thursday was Ascensus (ASX:ACE), a company that develops and sells AI-based traffic enforcement solutions. This company finished its first trading day flat.
And set to become the third IPO in 2023 today is Gold Hydrogen (ASX:GHY), which has a Petroleum Exploration License in South Australia.
As its name implies, it is focused on gold hydrogen, which is hydrogen that occurs naturally and is generated by geological processes. It consequently is more cost-effective and generates lower emissions compared to other types of hydrogen.
This company is notably chaired by former Foreign Minister Alexander Downer, who joined the company in the middle of last year.
Big name IPOs in 2023
Beyond a handful of small cap resources companies set to list in the next few weeks, the pipeline of IPOs in 2023 doesn’t look too promising. But it’s early days with several larger non-resources companies rumoured to be float candidates later this year, including Virgin Australia, Chemist Warehouse and Foxtel.
But it is unlikely we will see any of these join the list of IPOs in 2023 until equity market conditions improve.
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
No credit card needed and the trial expires automatically.
Blog Categories
Get Our Top 5 ASX Stocks for FY25
Recent Posts
Alvo Minerals finds itself a new Brazilian target
Every now and then in the mining game you meet people with a knack of finding more than one good…
Goodman Group (ASX:GMG): It looks expensive at A$65bn, but can its expansion into Data Centers make it worth its high price?
Goodman Group (ASX:GMG), the ASX’s biggest industrial property player, is making a shift into the world of data centres. On…
Here are 5 ASX resources stocks with a DFS unveiled in the last 12 months!
ASX resources stocks with a DFS (Definitive Feasibility Study) have the best possible chance for investors to profit. Companies in…