Listed IPOs

48 of these 48 have an opening price recorded. 42 of 48 listed at or above their issue price, and the median listing gain was +15.63%. 32 of them also had a grey market premium quoted before listing, which is the only set where GMP can be scored against anything — that comparison, including where the grey market was furthest out, is on the accuracy page.

Issue price is the upper end of the price band, which is where the great majority of issues finally price. Listed at is the opening price discovered in the special pre-open auction on listing morning — a single exchange-published figure that everyone trading in that auction receives, whatever they bid.

Listing gain is the difference between the two. It is not what anyone made: realising it required selling into the opening auction, and many issues open well and close far lower the same day. How listing day actually works.

GMP at close is the last grey market premium we recorded before bidding ended. Comparing it with the listing gain is the only honest test of whether the grey market knew anything, which is why we publish our own record including the misses rather than quoting premiums without ever scoring them. What GMP is and is not.

Rows showing not scored are issues where no grey market premium was ever quoted, or where the exchange has not yet recorded an opening price. We leave those blank rather than filling them with an estimate.