Each of this week ASX IPOs tap into the commodities theme, although the most high-profile name comes courtesy of Minerals 260 (ASX: MI6). The gold, nickel and copper explorer is a wholly-owned subsidiary of lithium high-flyer Liontown Resources (ASX: LTR), and with $30 million under its belt via shares priced at $0.50 each, it will focus on the prospective Moora project and an option to earn a 51% interest in the Koojan JV Project.

Meanwhile, software names take centre stage in the US, with billing and payments platform AvidXchange (AVDX), as well as development and collaboration firm GitLab (GTLB) on track to debut over the coming days, with each hoping to secure over half a billion US dollars.

Upcoming IPOs

MarketCompanyFocusIPO sizeExpected debutASXRecharge Metals (REC)Copper explorer $5mOct 11ASXDiablo Resources (DBO)Gold explorer$6.5mOct 12ASXMinerals 260 (MI6)Gold, nickel and copper explorer$30mOct 12ASXResilience Mining (RM1)Copper and gold explorer$6mOct 12ASXEastern Metals (EMS)Base and precious metals explorer$4.5mOct 14ASXAurum Resources (AUE)Gold explorer$5mTBCASXAlvo Minerals (ALV)Copper, zinc, precious metals & lead explorer$10mTBAASXActiveport Group (ATV)Software-defined networking tool$15mTBA

USAvidXchange (AVDX)Billing and payments software platformUS$528mOct 13USGitLab (GTLB)Software development and collaboration toolsUS$598mOct 14USIHS Holding (IHS)Telecom tower operatorUS$506mOct 14USLucid Diagnostics (LUCD)Diagnostic test maker for esophageal cancerUS$75mTBCUSMarpai (MRAI)Health plan platformUS$25mTBCUSBiofrontera (BFRI)Dermatology for skin damage diseasesUS$18mTBCUSParagon 28 (FNA)Orthopedic implants and device makerUS$125mTBCUSCingulate (CING)Phase 3 biotech for ADHD stimulant drugsUS$50mTBC

*All dates are subject to change and should be treated as an indicative guide only

Future Listings

Imagery technology business Artrya is pressing on with its plans to hit the ASX, with the company in the market for $40 million ahead of a potential stock market debut in late November. The company AI technology, Salix, is used to analyse CT scans for improved detection of heart disease, and has already received approval from the Therapeutic Goods Administration. It is now seeking regulatory approval in the US and Europe, with hopes to commercialise its technology abroad.Another technology play gaining steam, albeit in the travel market, is Alloggio, which is a holiday home platform looking to capitalise on the upcoming resumption of travel later this year. Alloggio is seeking $20 million via IPO, which would give it a value of approximately $45 million on debut. Unlike other platforms that operate on a B2C basis, Alloggio is a cloud-based platform designed for end-to-end management of mid-market hotels and holiday properties, effectively an intermediary between property owners and major booking platforms. Electrical products distributor IDP Group is looking to make the transition to a public company after more than 70 years. The profitable firm, with more than $80 million in revenue to its name in FY20, reportedly saw a significant uptick as a result of growth last financial year. There will also be more floats from junior names in the gold sector, with Cooper Metals, Hamelin Gold and Parabellum Resources the latest to join the waiting list. The trio offer exposure to different gold mining jurisdictions across Australia, taking in areas including but not limited to the West Tanami region in Western Australia, Mt Isa in north-west Queensland, and New South Wales' Lachlan Fold.Elsewhere, terms have been released for a number of other IPOs on the horizon. This includes investment manager GQG Partners, which is selling 593.5 million shares at $2 to $2.20 each to raise $1.187 billion to $1.306 billion, equivalent to 16.5-18-times forecast profit, as well as steel distributor Vulcan Steel, which is chasing $370 million via shares at $7.10 a piece, or 13.2-times forecast profit.

From the US, the IPO runway continues to build, with more than 20 companies last week submitting initial filings for upcoming floats. 

Undoubtedly the biggest of these was semiconductor player GlobalFoundries, which is reportedly looking to secure as much as US$2 billion in fresh funds, for a potential value around US$25 billion. An IPO in the coming weeks or months would come at a time where the semiconductor shortage is still in full effect across the world, spurred on by unprecedented demand for semiconductors used in all sorts of electronic devices, and as the company turned a gross profit in the first half of the year after years of losses.There are also IPO hopes for the likes of online education marketplace Udemy, personal finance platform NerdWallet, employment solutions provider HireRight, as well as Russian car-sharing firm Delimobil Holding.