IPOs are back baby. After last week’s Runners’ declaration that the market was risk on and small caps were frothing along ferociously, it would seem the bellwether of initial public offers (IPOs) has ticked up rather noticeably in quick succession.

After 2024 scraped along at a nearly two-decade low 29 IPOs, 2025 is racing ahead. It is now on track for some 40 listings, most of which will close out the year.

This week’s Bulls N’ Bears ASX Runner of the Week is… Everlast Minerals.

The uptick is injecting a sense of renewed vigour into the market. There is a palpable excitement - measured in trade volumes - in seeing fresh companies emerge among the thousands of three-letter ticker codes.

The rally is a result of a fully infected small caps sector brimming with investor confidence, which

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