Australian IPOs smashed the main market in July

The opening day of the 2015 Oktoberfest in Munich. Philipp Guelland/Getty Images

The average monthly return from the nine companies listing on the ASX in July was 15.7%, about 9.4 percentage points better than ASX 200, according to the latest OnMarket IPO Report.

A total $995.7 million was raised compared with $420 million in June.

Oventus Medical was the strongest performer, jumping 62% over the month since listing on the July 19. Race Oncology was up 22.5%

Big gains were posted by jeweller Michael Hill which raised $440.6 million in the month’s biggest float, returning 8.7% to investors on its first day of trade and 28.7% over the month.

The month featured a private equity sale, the float of finance company Scottish Pacific by Next Capital, which gained 7.8%.

Only one company, retailer Kogan.com, ended the month down. The $1.80 shares dropped 16% on the first day. They are now trading at $1.575.

Ben Bucknell at OnMarket BookBuilds says the average return from the 43 companies which listed on the ASX so far in 2016 is 26.2% compared to 5% from the ASX 200.

The July floats in detail:

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