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ASX dominates world resources sector IPOS

ASX dominates world resources sector IPOS

But mining floats struggle in the face of waning interest from investors.

Headline figures show that 2018 was the best year in more than a decade for the ASX initial public offerings (IPO) market. But conditions for smaller  oats, particularly junior explorers, remain tough, and a spike in market volatility could jam the IPO window shut for resources companies.

About $8.5 billion in IPO capital was raised through the ASX in 2018, from $6.4 billion a year earlier. By volume, ASX made the top five exchanges globally that year, with 132 new listings.

Two companies dominated IPO capital raisings: Wesfarmers through its $17.1-billion demerger of supermarket giant Coles; and the $9.7-billion listing of global shopping centre owner Unibail-Rodamco-Westfield as a result of last year’s Westfield Corporation takeover.

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