Australian IPO lead managers

Calendar 2025 · ASX IPOs listed · 20 deals · A$2.4bn disclosed

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

1	Morgans 5 deals · 11.5% share	276.9	11.5%
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 27 Jun 2025 Tetratherix IPO A$25m raised
2	Canaccord Genuity 8 deals · 10.9% share	262.5	10.9%
Share Canaccord Genuity's #2 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 17 Mar 2025 MA Credit Income Trust IPO A$330m raised
3	Barrenjoey 2 deals · 10.0% share	240.8	10.0%
Share Barrenjoey's #3 Share on LinkedIn Post on X Send by email Download image 27 Jun 2025 Tetratherix IPO A$25m raised 28 Jul 2025 Virgin Australia IPO A$685m raised
4	E&P Capital 4 deals · 9.9% share	239.4	9.9%
Share E&P Capital's #4 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
5	Goldman Sachs 1 deal · 9.5% share	228.3	9.5%
Share Goldman Sachs's #5 Share on LinkedIn Post on X Send by email Download image 28 Jul 2025 Virgin Australia IPO A$685m raised
5	UBS 1 deal · 9.5% share	228.3	9.5%
Share UBS's #5 Share on LinkedIn Post on X Send by email Download image 28 Jul 2025 Virgin Australia IPO A$685m raised
7	Bell Potter 3 deals · 8.1% share	194.4	8.1%
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 7 Apr 2025 Minerals 260 IPO A$220m raised
8	MST Financial 2 deals · 4.8% share	116.0	4.8%
Share MST Financial's #8 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised 17 Mar 2025 MA Credit Income Trust IPO A$330m raised
8	Shaw and Partners 2 deals · 4.8% share	116.0	4.8%
Share Shaw and Partners's #8 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised 17 Mar 2025 MA Credit Income Trust IPO A$330m raised
10	Argonaut 1 deal · 4.6% share	110.0	4.6%
Share Argonaut's #10 Share on LinkedIn Post on X Send by email Download image 7 Apr 2025 Minerals 260 IPO A$220m raised
11	Henslow 1 deal · 3.1% share	75.0	3.1%
Share Henslow's #11 Share on LinkedIn Post on X Send by email Download image 29 Oct 2025 Advanced Innergy Holdings IPO A$150m raised
12	MA Moelis Australia 1 deal · 2.7% share	66.0	2.7%
Share MA Moelis Australia's #12 Share on LinkedIn Post on X Send by email Download image 17 Mar 2025 MA Credit Income Trust IPO A$330m raised
12	Ord Minnett 1 deal · 2.7% share	66.0	2.7%
Share Ord Minnett's #12 Share on LinkedIn Post on X Send by email Download image 17 Mar 2025 MA Credit Income Trust IPO A$330m raised
14	CommSec 1 deal · 2.1% share	50.0	2.1%
Share CommSec's #14 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
14	National Australia Bank 1 deal · 2.1% share	50.0	2.1%
Share National Australia Bank's #14 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
14	Wilsons Advisory 1 deal · 2.1% share	50.0	2.1%
Share Wilsons Advisory's #14 Share on LinkedIn Post on X Send by email Download image 22 Sep 2025 Revolution Private Credit Income Trust IPO A$400m raised
17	Euroz Hartleys 2 deals · 0.5% share	11.8	0.5%
Share Euroz Hartleys's #17 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
18	Wallabi Group 1 deal · 0.3% share	6.8	0.3%
Share Wallabi Group's #18 Share on LinkedIn Post on X Send by email Download image 24 Oct 2025 PC Gold IPO A$13.5m raised
19	Alpine Capital 1 deal · 0.2% share	6.0	0.2%
Share Alpine Capital's #19 Share on LinkedIn Post on X Send by email Download image 10 Oct 2025 Nexsen IPO A$6m raised
20	Harbury 1 deal · 0.2% share	5.0	0.2%
Share Harbury's #20 Share on LinkedIn Post on X Send by email Download image 7 Oct 2025 Green & Gold Minerals IPO A$5m raised
21	Inyati Capital 1 deal · 0.2% share	4.0	0.2%
Share Inyati Capital's #21 Share on LinkedIn Post on X Send by email Download image 28 Nov 2025 Black Horse Mining IPO A$8m raised
21	Veritas Securities 1 deal · 0.2% share	4.0	0.2%
Share Veritas Securities's #21 Share on LinkedIn Post on X Send by email Download image 28 Nov 2025 Black Horse Mining IPO A$8m raised
23	Bay Financial 1 deal · 0.1% share	2.5	0.1%
Share Bay Financial's #23 Share on LinkedIn Post on X Send by email Download image 9 Dec 2025 Exultant Mining IPO A$5m raised
23	GBA Capital 1 deal · 0.1% share	2.5	0.1%
Share GBA Capital's #23 Share on LinkedIn Post on X Send by email Download image 9 Dec 2025 Exultant Mining IPO A$5m raised

Share of the table, Calendar 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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