Interest in digital platforms spiked in 2020 on the back of the coronavirus pandemic, with 113 new listings on the ASX. What will 2021 bring?
2020 was an eventful year, with capital raising activities and initial public offerings (IPOs) on the Australian Securities Exchange (ASX) on the rise.
In total, the ASX saw 113 new listings last year, including eight in the software and services sector.
Last year brought a spike in interest for digital platforms on the back of the coronavirus pandemic, and the ASX tech IPO of security software business Nuix (ASX:NXL) was one of the largest raisings on the exchange last year at AU$975 million.
But what are the upcoming ASX tech IPOs that investors should keep an eye out for? Here the Investing News Network looks at upcoming listings under the software and services sector in 2021. Data was up to date as of January 26, 2021, with companies listed in alphabetical order.
1. 3D Metal Forge
Proposed listing date: February 12, 2021
Singapore-headquartered 3D Metal Forge produces additively manufactured parts at scale. The company, which is gearing up for an ASX tech IPO, also provides consultancy, engineering and design optimization, printing and production as well as post-production services.
The company bills itself as having one of the most advanced ranges of printing equipment. Its offerings include the Multi Jet Fusion, Selective Laser Melting and Directed Energy Deposition printers, which can produce high-quality metal parts of up to 1.5 metres in size and at a speed of up to 750 grams per hour.
3D Metal Forge is not accepting any more applications from investors for its ASX tech IPO, as it has exceeded its target — originally set at AU$10 million for up to 50 million shares at AU$0.20 per share.
Proposed listing date: February 9, 2021
Founded in 2007, BikeExchange is an online marketplace that aims to connect consumers with retailers of bicycle products and accessories through a convenient, transparent and efficient platform.
BikeExchange has approximately 1,450 retailers and over 1,500 brands globally available on the platform with a product database of over 600,000. According to the company, the platform was visited by over 25.1 million consumers between October 2019 to September 2020.
The company is looking to raise a total of AU$20 million by offering shares at AU$0.26.
3. Nexion Group
Proposed listing date: TBA
Nexion Group is an information technology company delivering cloud infrastructure and network services, with an aim to become a global operator of Hybrid Cloud SD-WAN infrastructure.
Western Australia-based Nexion provides hybrid cloud infrastructure used by corporations to host their core business systems. Hybrid cloud describes the combined use of dedicated private computer infrastructure and publicly available cloud services.
To be able to implement its strategy, Nexion is hoping to raise up to AU$8 million by offering up to 40 million shares at a price of AU$0.20 per share.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.