Cobalt and cannabis put spark into IPO market

The initial public offering market has made a strong start to the year with the number of companies listing on the ASX during the first quarter of calendar 2017 more than doubling the previous corresponding period.

Capital raising platform OnMarket Bookbuilds said the median return from a first quarter float was 18.3 per cent compared with the benchmark return of 3.5 per cent, setting up strong foundations for the year ahead.