How these IPOs fared 1 week later

I like to cover how last week’s IPOs did on the market, so I can see whether investors feel like there’s something to like about the company or not.

Here’s how the latest shares which were meant to list performed:

Power Asia Limited (ASX: P88)

Power Asia was meant to list on 23 January 2018.

It sounds like a promising business with its main activities in renewable energy. It has a major presence in Victoria and Queensland as a renewable energy installer and it also has a presence in South East Asia as an expert in hydro, thermal and solar power.

The business was hoping to raise $9,000,000 but it hasn’t listed yet.

The listing date is now ‘to be announced’ on the ASX site.

Tao Commodities Ltd (ASX: TAO)

Its proposed listing date was 22 January 2018.

Its principal activity is mineral exploration and was hoping to acquire mining rights in the USA.

Tao was hoping to raise $4,750,000 but it didn’t end up listing on the expected date. Its listing date is also set as ‘to be announced’ on the ASX site.

Foolish takeaway

It’s disappointing that neither company listed, so keen investors will need to keep a lookout for when they do list. Personally, I wouldn’t invest in Tao because of how speculative it is, but Power Asia could tap into the growing renewable energy tailwind.

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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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