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Upcoming IPOs this week

I’m always on the lookout for what could become the next blue chip on the ASX boards. Every single business started off small and built up from scratch.

You never know if the latest business to list onto the stock exchange will turn into the next big thing, which is why I like to monitor what companies are going to list over the upcoming week.

Here are two shares which were meant to list this week:

Accelerate Resources Limited (ASX: AX8)

Its proposed listing date is 29 January 2018.

Its principal activity is ‘mineral exploration’. Its website says that it will provide shareholders with the opportunity to invest in a Australian cobalt copper and gold exploration company.

The company says that maximum leverage will be provided to shareholders through the strategy of consolidating dominant landholdings within mineralised provinces and adding significant value to those landholdings.

The business is hoping to raise $5,000,000 at $0.20 per share.

Jayride Group Limited (ASX: JAY)

Its proposed listing date was 29 January 2018.

Its principal activity according to the ASX listing is the ‘international comparison platform for ground passenger transportation.’

Jayride’s site provides a bit more information. It organises the transfer from (for example) the airport to your accommodation via a mode of transport you’re happy with such as a luxury private car or shared shuttle at a price you’re willing to pay for.

Jayride says it works with thousands of transfer companies at more than 500 airports worldwide. It could turn into a very promising business if consumers change to Jayride’s app for their travel needs.

The business was hoping to raise $1.5 million at $0.50 per share.

Foolish takeaway

Both these businesses aren’t my type of ideal investments, particularly mineral exploration. Jayride could turn into something special, but I’d rather wait and see how its growth plans turn out over the next year or two before considering an investment.

Instead, I’d rather invest in these top growth companies for a better chance of large returns.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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