Despite a local market unable to get excited even about a hotter than expected decrease in headline inflation, the latest face to hit the ASX on Wednesday – Li-FT Power (ASX:LFT) – has jumped over +6% on its debut, notching $5.70/sh.
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It’s been a fairly good month for IPOs, even considering the terrible geopolitical macro backdrop. While it’s since taken a breather, earlier this month, new entrant Ktek Aerosystems (ASX:KTK) surged over +100% on its CY26 debut and while the next example was far off, even skin-piercing franchise brand owner SkinKandy (ASX:SK1) had a fairly decent day when it listed.
Clearly, underneath the veneer of malaise, the Australian share market is hungry as ever for new opportunities to invest in.
Whether one could call Li-FT’s overall value proposition opportunity “new” is a philosophical matter, because it may seem to many to be a relic from a brighter recent past. The company is exploring for lithium pegmatites in Canada.
This comes at the same time Core Lithium and MinRes have both recommenced lithium mining projects (at Finniss and Bald Hill, respectively) on the back of an uptick in lithium carbonate futures reflected on commodities markets.
Not bad for a white metal that two years ago looked like it was gone for good (though we’re still far off COVID-era highs for the battery metal price).
It should also be noted LFT’s rise Wednesday does admittedly come on the back of fairly low volumes – less than $600,000 worth of shares had traded hands as at arvo 2pm AEST, but still, the stock’s outperforming the whole Australian market, up only two-tenths of a per cent at the same time.
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