IPO Watch: One other Vulcan Joins ASX At present (However It is a Metal Firm)

Welcome to ASX Vulcan Metal (ASX: VSL)An organization peculiar not as a result of it shares a primary title with one of many hottest firms of 2021, but in addition as a result of it’s one in all only some metal ASX firms.

The Vulcan was established in 1995, and is a distributor and processor of metal merchandise in Australia and New Zealand.

It was one of many largest IPOs of the yr, elevating $371.6 million and itemizing with a market capitalization of $930 million – a value it held agency when it listed at 12 p.m. (AEDT).

The corporate’s shares are dual-listed on the ASX and NZX, making it uncommon not solely to be listed on either side of the Tasman, but in addition to have an IPO on the NZX – an absence of IPOs with solely a handful of listings on the Kiwi trade in recent times. Is. From 2017.

Vulcan Metal CEO Rice Jones mentioned in the present day was a momentous alternative and a big step ahead.

“We’re enthusiastic about our prospects. Our group’s focus is unwavering on the subject of rising buyer satisfaction, rising our enterprise and revenue, and creating extra worth for our shareholders within the course of,” he introduced. Of.

Whereas there isn’t a scarcity of iron ore firms on the ASX, there are only some pure-play metal shares.

Most notable embrace Bisloy (ASX:BIS), Coronado (ASX:CRN) And BlueScope (ASX:BSL),

Vulcan Metal (ASX:VSL) Share Worth Chart

No relation to “different” Vulcan

Whereas VSL shares an analogous title, it has nothing to do with Vulcan Vitality (ASX: VUL) – Excessive flying battery metallic inventory.

Regardless of a brief vendor report and a subsequent drop in its shares, VUL nonetheless grew by almost 80 instances 16 cents to $12 in 2 years.

It has transformed its non-core property right into a separate firm Kunico (ASX:KKI) And it is also been a multi-bagger for the reason that itemizing.

Vulcan (ASX: VUL) and Kunico (ASX: KKI) share value charts

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