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.