IPO Watch: July was the ASX's busiest IPO month in 2026 with 10 floats and two triple-digit baggers
July delivered the year's biggest month of ASX floats, with 10 debuts, two triple-digit baggers and a solid August pipeline to follow.
Source: iStock
Mentioned
KEY POINTS
- July saw 10 new listings, the busiest month of 2026, lifting the year-to-date count to 29, well ahead of 2023, 2024 and 2025.
- July's average debut gain was 25%, but stripping out baggers Gwardar (+105%) and Ceretas (+132%) drops it to just 1.7%.
- New listings tend to peak on debut then grind lower. Only SkinKandy and Kaoko have meaningfully topped their debut price this year.
July was the busiest month of the year so far for new listings, with ten debuts pushing the year-to-date count to 29. It also marked one of the most diverse sets of companies, spanning classic base and critical metal explorers, as well as software, medtech, construction and an AI fund.
July IPOs at a glance
The average new listing gained 25% on its debut, though this average is propped up by Gwardar (+105%) and Ceretas (+132%).
Gwardar Resources is a Perth-based junior explorer chasing copper, gold and nickel in Western Australia, via the Doolgunna project in Murchison and the Kurnalpi project sitting in the Eastern Goldfields.
Ceretas is a clinical-stage medtech commercialising a portable, non-invasive therapeutic ultrasound headset for Alzheimer's disease and other neurodegenerative conditions.
Omit those two baggers and the average July debut gain drops to just 1.7%.
Ticker | Company | Listing date | IPO price | Debut | Last | Day 1 % | To date % |
|---|---|---|---|---|---|---|---|
ALU | Alurion Resources | 31/07/26 | $1.05 | $0.90 | $0.90 | -14.3% | -14.3% |
GRS | Gwardar Resources | 31/07/26 | $0.20 | $0.41 | $0.41 | 105.0% | 105.0% |
MNV | Monvia | 24/07/26 | $1.10 | $1.12 | $1.10 | 1.8% | 0.0% |
CTS | Ceretas | 23/07/26 | $0.25 | $0.58 | $0.55 | 132.0% | 120.0% |
LUX | Lux Copper Corp | 17/07/26 | $0.25 | $0.32 | $0.33 | 26.0% | 30.0% |
AXQ | Aura Consolidated | 9/07/26 | $6.93 | $6.85 | $3.20 | -1.2% | -53.8% |
FDC | FDC Consolidated | 9/07/26 | $3.00 | $3.37 | $3.37 | 12.3% | 12.3% |
TET | Tetragon Energy | 9/07/26 | $0.20 | $0.25 | $0.23 | 25.0% | 12.5% |
NHU | Neu Horizon Uranium | 7/07/26 | $0.20 | $0.14 | $0.08 | -30.0% | -59.0% |
AIX | AI Private Opportunities Trust | 2/07/26 | $10.00 | $9.35 | $9.01 | -6.5% | -9.9% |
Share price performance as at Friday, 31 July 2026
The year so far
There have been 29 IPOs this year, tracking well ahead of the corresponding period in 2025 (16), 2024 (19) and 2023 (18) but still well below the 63 recorded in 2022.
The average IPO in 2026 has returned 30.5% on its debut, with the average buoyed by names like Bison Resources (+225%), Ceretas (+132%), Gwardar (+105%) and KTEK Aerosystems (+102.5%). Take out these four runners, and the average drops to 11.3%.
Returns to date imply that more often than not, the stock's highest price is achieved at its debut, followed by a slow grind lower. The average new listing is up just 10% to date, and once you take out the ones that are still up triple digits (Gwardar, Ceretas, Kaoko and Bison), the average drops to (8.5%). There are only two stocks that have managed to meaningfully move above the debut price, that being SkinKandy and Kaoko Metals.
Share price performance as at Friday, 31 July 2026
A solid pipeline for August
The momentum continues in August, with six IPOs currently scheduled.
SCX.ai Holdings (SCX), Tuesday 11 August: SCX.ai operates what it calls Australia's first sovereign AI inference network, letting government and enterprise customers run AI workloads onshore rather than through offshore cloud providers. It uses energy-efficient ASIC chips from partner SambaNova instead of power-hungry GPU training farms, and is raising $40 million at 30 cents a share.
Powerhaus Uranium (POW), Monday 17 August: Powerhaus is a uranium explorer in Argentina and Canada, raising $8 million at 20 cents per share.
Energy Fuels (EF2), Thursday 20 August: Energy Fuels is an established North American producer of uranium, vanadium, rare earths and heavy mineral sands, anchored by the White Mesa mill in Utah. This is a foreign exempt cross-listing via CDIs on a one-for-one basis with no capital raising or issue price, established to let former Australian Strategic Materials holders trade their scrip on the ASX.
Whiterock Lithium Corp (WLC), Thursday 20 August: Whiterock is a Calgary-based explorer that has found spodumene-rich pegmatites on its wholly owned ground in the James Bay region of Quebec. It's raising $6 million at $3.25 a CDI.
Almasar Minerals (AMK), Friday 21 August: Almasar is a Saudi-focused gold and copper explorer, with an initial portfolio of five granted exploration licences covering roughly 420km2 across the Nabitah-Ad Duwayhi and Nuqrah-As Safra metallogenic belts.
Axiant Resources (AXR), Friday 28 August: Axiant is a gold explorer holding Northern Territory and South Australian tenements demerged from Core Lithium, centred on the 230km2 Shoobridge project in the Pine Creek region near Agnico Eagle's Cosmo Howley mine. It's raising $8-10 million at 20 cents per share.
Elk Range Mining (ELK), TBA: Elk Range is advancing the Idaho Gold Project in the US, anchored by the permitted Friday gold mine and existing processing infrastructure, with a combined historical foreign resource of 343,000oz including 144,000oz at 5.91g/t at Friday.
