IPOs have proved to be a better bet than the local Australian equities market in general in 2016.
The initial public offerings returned 35.8% for the 11 months to the end of November 30, according to analysis by OnMarket BookBuilds, an app which provides access to IPOs with the same terms as institutional investors.
The ASX200 has returned just 2.7% for the calendar year to date.
Over the month of November, 12 companies raised a total $1.95 billion by floating on the ASX, well up on the five listings in the same month last year which raised $558 million.
The OnMarket November IPO Report shows the average return on those November IPOs was 5.2%.
And the market for 2017 looks strong.
“The IPO pipeline appears strong, with 40 IPOs being proposed to date, which are expected to raise more than $450 million over the next three months,” says Ben Bucknell, the CEO at OnMarket BookBuilds.
Notable first-day performers in November included Malta-based healthcare provider Neurotech with a 42.5% gain, Apollo Tourism and Leisure with 32.5% and Mayfield Childcare at 15%.
Here’s how each IPO performed in November:
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