even the IPO's recently turned bullish with more to come in...

even the IPO's recently turned bullish with more to come in early new year. This Minesite article i posted the other day in the IPOs Forum.

http://www.hotcopper.com.au/post_single.asp?fid=278&tid=1341944&msgid=7571725

December 28, 2010

Australian Investors Get A Christmas Float Surprise.

By Our Man In Oz / www.minesite.com

Floating a company just before Christmas has usually been a rather dopey idea. Not this year in Australia where the market is finishing 2010 with a flourish, and with January looking even busier for initial public offerings. Mining stocks in particular have starred on the ASX over the past three weeks with investors shunning the shops and trading hard all the way to Christmas Eve. There hasn't been a single trigger for this outbreak of optimism, more a gut feeling in Australia that 2011 will be a bumper year as exports of minerals and food struggle to keep pace with Asian demand. High commodity prices are, however, just part of the story. There is also a head of steam building in the mergers and acquisitions area as cash that has been sidelined for the past two years pours back into the market.

Consider a few numbers. Over the past six months 61 new companies listed on the ASX, roughly half of them in the resources sector. Out of those new floats 20 could be considered failures with their current share price below the issue price, a ratio of roughly one-third failed and two-thirds successful. But, since the start of December the ratios have flipped around with 27 new listings in just 17 days and with only four failing to hold, or better their float price, a failure rate of around 15 per cent or, more importantly, a success rate of 85 per cent - odds that guarantee support for the next 42 stocks which have paid their initial fee at the ASX and are moving towards a listing day......

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