Business
ASX IPOs: May delivers four new listings, June set for six more
ASX IPOs: May delivers four new listings, June set for six more
About this update from Skinkandy Limited
2026 has delivered a small handful of new listings to the market each month, and May continued the trend, with Li-FT Power, SkinKandy, KTEK Aerosystems and Kaoko Metals making their debut.Sixteen companies have listed so far this year, far outpacing the same period in 2025 (5), 2024 (10) and 2023 (12) but well below the glory days of 2022 (49) and 2021 (41).May listings at a glanceTickerCompanyListing dateIPO priceDebutLastDay 1 %To date %LFTLi-FT Power26/05/26~5.34$5.40~~SK1SkinKandy21/05/26$2.202.35$2.256.8%2.3%KTKKTEK Aerosystems18/05/26$0.200.405$0.32102.5%60.0%KAOKaoko Metals7/05/26$0.200.36$0.4680.0%130.0%Share price performance as at Friday, 29 May 2026Li-FT Power (LFT): Acquired Winsome Resources in May, with Winsome shareholders receiving 0.107 new Li-FT CDIs. This deal brought in Winsome's tier-one Adina lithium project in Quebec's James Bay region, which alongside the adjacent Galinée property creates one of Canada's largest hard-rock lithium developments.SkinKandy (SK1): Australia's largest specialty piercing and jewellery retailer, with 100+ studios across Australia and NZ. It debuted on the ASX in May 2026 after a ~A$160 million IPO, with plans to expand into the UK, US and beyond.KTEK Aerosystems (KTK): An Israeli-founded, Perth-headquartered Tier-2 defence supplier making composite airframes and electromechanical assemblies for military and commercial drones (UAVs). It's a "picks-and-shovels" play, supplying parts to Tier-1 contractors like Elbit Systems.Kaoko Metals (KAO): A copper explorer that listed on the ASX in May 2026 after a A$6.5 million IPO, targeting high-grade copper, silver and gold across two drill-ready projects in Namibia.A closer look: SkinKandySkinKandy is one of the more interesting (and profitable) companies to debut in recent months. The company is an Australian body piercing and jewellery retailer, operating approximately 100 studios across Australia and New Zealand.The top and bottom lines have been growing at a steady clip, with three-year CAGRs of 32% and 36% respectively.FY23FY24FY25FY26FRevenue (A$m)38.651.770.188.7EBITDA (A$m)9.412.917.523.5EBIT (A$m)5.07.59.913.4Net profit after tax (A$m)3.44.86.48.6Source: ProspectusHere are some key takeaways from the prospectus:Management view the ANZ piercing services market as highly fragmented, with over 1,000 independent salons, beauty operators and pharmaciesThis prese...