Mining minnows and medical marijuana stocks have been the main drivers of IPO activity in the first half of calendar 2017, with a complete absence of the multibillion-dollar blockbuster raisings of previous years.

A half-year review of the newly listed entities on the ASX performed by professional services firm HLB Mann Judd showed that while the overall number of raisings was up the quantum of funds raised was well down on previous years.