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WA leads IPO raceWA leads IPO race

WESTERN Australia led the way in he number of initial public offerings in the half year to December, accounting for 45 per cent of all IPO activity, according to a review of IPO activity by Deloitte Corporate Finance.

A total of 38 WA-based companies have listed on the Australian Stock Exchange in the six months to December 31.

Deloitte Corporate Finance partner Tom Henderson said IPO activity had boomed in the State.

"There has been a flood of nickel and gold explorers listing which has added a speculative component to the current IPO boom," he said.

While WA dominated the IPOs, the value of all IPOs from the State was $266 million, or 4 per cent of all IPOs by value. The average size was $7 million.

Two companies in the real estate sector made up the largest of the WA IPOs with Acumen Capital Property raising $64.7 million and Aspen Group raising $25.9 million.

However, the largest IPO out of the State, even though it was run from Sydney, was Multiplex, which made a $1.184 billion to investors. It did not rank in the Deloittes survey because of the Sydney tie in.

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