Australian IPO lead managers

H2 2025 · ASX IPOs listed · 17 deals · A$1.8bn disclosed

Australian IPO lead managers, H2 2025, ranked by deal value

1	Morgans 4 deals · 14.4% share	264.4	14.4%
Share Morgans's #1 Share on LinkedIn Post on X Send by email Download image 3 Dec 2025 Saluda Medical IPO A$231m raised 27 Nov 2025 Epiminder IPO A$125m raised 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised 29 Oct 2025 Advanced Innergy Holdings IPO A$150m raised
2	E&P Capital 4 deals · 13.0% share	239.4	13.0%
Share E&P Capital's #2 Share on LinkedIn Post on X Send by email Download image 3 Dec 2025 Saluda Medical IPO A$231m raised 27 Nov 2025 Epiminder IPO A$125m raised 3 Nov 2025 Carma IPO A$100m raised 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
3	Barrenjoey 1 deal · 12.4% share	228.3	12.4%
Share Barrenjoey's #3 Share on LinkedIn Post on X Send by email Download image 28 Jul 2025 Virgin Australia IPO A$685m raised
3	Goldman Sachs 1 deal · 12.4% share	228.3	12.4%
Share Goldman Sachs's #3 Share on LinkedIn Post on X Send by email Download image 28 Jul 2025 Virgin Australia IPO A$685m raised
3	UBS 1 deal · 12.4% share	228.3	12.4%
Share UBS's #3 Share on LinkedIn Post on X Send by email Download image 28 Jul 2025 Virgin Australia IPO A$685m raised
6	Canaccord Genuity 7 deals · 10.7% share	196.5	10.7%
Share Canaccord Genuity's #6 Share on LinkedIn Post on X Send by email Download image 3 Nov 2025 Carma IPO A$100m raised 28 Nov 2025 Sentinel Metals IPO A$6m raised 24 Oct 2025 Desert Minerals IPO A$5m raised 24 Oct 2025 PC Gold IPO A$13.5m raised 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised 6 Aug 2025 Orezone Gold IPO A$75m raised 16 Jul 2025 Tali Resources IPO A$7.5m raised
7	Bell Potter 2 deals · 4.6% share	84.4	4.6%
Share Bell Potter's #7 Share on LinkedIn Post on X Send by email Download image 3 Dec 2025 Saluda Medical IPO A$231m raised 29 Oct 2025 Golden Globe Resources IPO A$7.5m raised
8	Henslow 1 deal · 4.1% share	75.0	4.1%
Share Henslow's #8 Share on LinkedIn Post on X Send by email Download image 29 Oct 2025 Advanced Innergy Holdings IPO A$150m raised
9	CommSec 1 deal · 2.7% share	50.0	2.7%
Share CommSec's #9 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
9	MST Financial 1 deal · 2.7% share	50.0	2.7%
Share MST Financial's #9 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
9	National Australia Bank 1 deal · 2.7% share	50.0	2.7%
Share National Australia Bank's #9 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
9	Shaw and Partners 1 deal · 2.7% share	50.0	2.7%
Share Shaw and Partners's #9 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
9	Wilsons Advisory 1 deal · 2.7% share	50.0	2.7%
Share Wilsons Advisory's #9 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
14	Euroz Hartleys 2 deals · 0.6% share	11.8	0.6%
Share Euroz Hartleys's #14 Share on LinkedIn Post on X Send by email Download image 27 Oct 2025 Right Resources IPO A$8m raised 16 Jul 2025 Tali Resources IPO A$7.5m raised
15	Wallabi Group 1 deal · 0.4% share	6.8	0.4%
Share Wallabi Group's #15 Share on LinkedIn Post on X Send by email Download image 24 Oct 2025 PC Gold IPO A$13.5m raised
16	Alpine Capital 1 deal · 0.3% share	6.0	0.3%
Share Alpine Capital's #16 Share on LinkedIn Post on X Send by email Download image 10 Oct 2025 Nexsen IPO A$6m raised
17	Harbury 1 deal · 0.3% share	5.0	0.3%
Share Harbury's #17 Share on LinkedIn Post on X Send by email Download image 7 Oct 2025 Green & Gold Minerals IPO A$5m raised
18	Inyati Capital 1 deal · 0.2% share	4.0	0.2%
Share Inyati Capital's #18 Share on LinkedIn Post on X Send by email Download image 28 Nov 2025 Black Horse Mining IPO A$8m raised
18	Veritas Securities 1 deal · 0.2% share	4.0	0.2%
Share Veritas Securities's #18 Share on LinkedIn Post on X Send by email Download image 28 Nov 2025 Black Horse Mining IPO A$8m raised
20	Bay Financial 1 deal · 0.1% share	2.5	0.1%
Share Bay Financial's #20 Share on LinkedIn Post on X Send by email Download image 9 Dec 2025 Exultant Mining IPO A$5m raised
20	GBA Capital 1 deal · 0.1% share	2.5	0.1%
Share GBA Capital's #20 Share on LinkedIn Post on X Send by email Download image 9 Dec 2025 Exultant Mining IPO A$5m raised

Share of the table, H2 2025

Top ten by deal value.

Rank by year

This table's top firms in each year.

Value is shared equally among the lead managers on each deal. Methodology

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