Three small cap new issues are currently flying high
A trio of recently floated small caps have seen their shares perform extremely well since IPO, confirmation that new issues with compelling growth narratives can deliver impressive rapid-fire returns.
Swiss-based environmentally-minded materials company HeiQ (HEIQ) debuted on the Main Market on 7 December following a £60 million raise at 112p and has more than doubled to 240.3p on excitement surrounding technology that adds functionality to textiles, be it improving cooling, warming or even odour prevention.
Moreover, the company’s antiviral surface protection effectively kills off infectious diseases such as Covid-19. HeiQ’s clients including IKEA, where it helps produce curtains to purify the air, as well as Burberry (BRBY), Zara and The North Face.
Also flying high is Calnex Solutions (CLX:AIM), a provider of test and measurement solutions for the telecommunications sector with a customer roster that includes BT (BT.A), Ericsson, Nokia and Facebook. Debuting on AIM in October after raising £22.5 million at 48p, its shares have dialled up a 145% gain to 117.5p, investors impressed by news of a 90% first half pre-tax profit increase to over £2.3 million.
Another in rude health is Verici Dx (VRCI:AIM), which floated (3 Nov) via an oversubscribed fundraising at 20p and now trades at 92p. Sara Barrington-bossed Verici Dx develops tests to understand how a patient is likely to, and may be, responding to a kidney transplant.