find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
View details
IP firms' shares plummet

IP firms' shares plummet

plummet

Three ASX-listed IP firms have witnessed their share prices rapidly decline in the second half of 2016.

IPH Limited (IPH), Xenith IP Group Limited (Xenith) and Qantm Intellectual Property Limited (Qantm) have all seen their shares drop substantially over the past six months.

Kicking off the year with a share price of $9.01 and peaking at $9.43 in February, IPH has had a volatile year.

The intellectual property, patents and trade marks firm has seen its share price drop more than 40 per cent over 52 weeks, sitting at $4.91 as of 15 December 2016.

Debuting on the ASX in November 2014, IPH Limited set out to expand its presence by buying existing IP practices, being the only ASX-listed IP firm at the time.

“Going forward we believe that opportunities exist for the group to continue to acquire and develop intellectual property businesses, not only in Australia but more importantly in Asia and beyond, where we believe the greatest long-term growth opportunities lie,” said chairman Richard Grellman in November 2015, a year after the official listing.

Xenith, which comprises Shelston IP and Shelston IP Lawyers, commenced trading on the ASX in November 2015, with an opening share price of $3.24.

The firm’s share price peaked in mid-May this year at $4.32, before dropping just over 40 per cent to $2.57 as of 15 December 2016.

This latest share price update came after Xenith managing director Stuart Smith announced the company had recorded pro forma revenue of $32.3 million during FY2015-16, up 19 per cent on its $27 million in FY2014-15 and up 8 per cent on its prospectus.

“This is a very pleasing result and a reflection of the sustained efforts undertaken by Xenith’s highly experienced staff and management team since the group’s ASX listing in November 2015,” Mr Smith said at the time.

“It is particularly pleasing to report that the group exceeded its prospectus forecasts for revenue and EBITDA by 8 per cent and 23 per cent respectively.

“The company has achieved a great deal since listing on the ASX less than a year ago and is well-placed to build on its market position in [FY2016-17].”

Qantm, the newest player to the game, announced its ASX listing on 31 August 2016.

The holding company of Davies Collison Cave and FPA Patent Attorneys (formerly Freehills Patent Attorneys) opened with a share price of $2.22. Just two hours after trading commenced, Qantm shares were priced at $2.49.

However, it appears Qantm shares have dropped off since then, recording a low of $2.06 on 6 December. An update has confirmed Qantm shares are slightly picking up again, valued at $2.21 as of 15 December.

Lawyers Weekly reached out to IPH, Xenith and Qantm on their share prices, however they were unable to provide comment by the time this article was published.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

IP firms' shares plummet
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
marriage equality
Nov 16 2017
Legislation the next hurdle for marriage equality
Lawyers have underscored the importance of ensuring same-sex marriage legislation does not limit ant...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...