April was a quiet month, but capital markets rallied strongly

April saw $3.1 billion in capital raised via the ASX, down 69% from the same month in 2021.

Only $386m was raised through primary markets, down 90% from a year earlier, and capital raised through secondary markets fell 54% year-over-year to $2.7bn .

Booming Capital in FY22

But even though it was a quiet month, fiscal 2022 was one of recovery for capital markets.

With just two months left before moving into fiscal 2023, $219.6 billion has been raised, up 180% from the same period in 2021.

A whopping $172.5 billion was raised via secondary markets, up 212%, and $47.1 billion via primary markets, up 102%.

New Admissions

Although capital was more difficult to find in April, new listed entities were not; 18 arrived on stage last month, bringing the total to 2,311, an increase of 5% compared to the same period last year.

International Graphite Ltd (ASX:IG6) was one such company, raising $10 million in its initial public offering (IPO) at 20 cents per share, when it acquired the Springdale Graphite project in southern l ‘Western Australia.

International Graphite plans to provide a new source of battery graphite to the global electric vehicle (EV) and renewable energy markets.

It has designed an integrated mine-to-market operation in Western Australia that will take mining concentrate from its newly acquired Springdale asset and create battery anode materials at a downstream processing facility in Collie.

Busy March quarter

In April, the average daily number of trades jumped 19% from a year earlier, with an average daily market value traded of $6.1 billion, up 22%.

The total cash market for April was $128.3 billion, up 10%, and the total cash market for FY22 so far is up 15% to $1.6 trillion .

This interest was reflected in business reports from a busy March quarter, which saw companies from all walks of life make significant progress.

From early mineral resource estimates to project acquisitions, ASX gold stocks had a productive quarter in March.

The oil and gas market remained buoyant amid lingering global energy concerns, with exploration programs galore in ASX stocks.

Meanwhile, in the tech sector, strong news flow has seen ASX-listed tech stocks beat the relatively high-hanging trends that track the industry as a whole.

-Daniel Paproth