The Australian Initial Public Offerings (IPOs) market gained momentum in August, with the 10 companies which listed raising $1.2 billion and returning an average 34.1%, according to a new report, the OnMarket August IPO Report 2016. The average monthly return from the August IPOs compared to a 2.3% drop for the S&P/ASX 200. Year-to-date returns have been strong at 24.8% compared with 13% for the same period in 2015. The number of IPOs was up from seven listings in August 2015 which raised just $133.2 million.