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How these IPOs fared 1 week later

The first week of a company being on the ASX boards can be very telling. The market doesn’t get any new information until the next quarterly or half-year result, so we can get a sense of the sentiment from how the share does in its first week.

Of course, how the market treats a share doesn’t ultimately mean anything. But, it can be interesting nonetheless.

Here are how the latest ASX shares fared:

JYG Australia Ltd (ASX: JYG)

JYG was meant to list on 20 February 2018 at $0.20 per share.

The main activities of the business are professional services, which includes accounting legal and financial for inbound Asian capital expanding into Australia.

The company was hoping to raise $3.4 million at listing, but sadly it appears not to have made it onto the ASX boards yet.

The ASX does not currently disclose when the expected listing date will be.

Simble Solutions Limited (ASX: SIS)

Simble listed on 22 February 2018 and hoped to raise $7.5 million.

The business listed at $0.20 per share and is currently trading at $0.24 per share, representing a rise of 20% in the short time it has been on the ASX boards.

It describes itself as a Software as a Service company which looks to help other companies improve productivity, reduce operational costs and enhance engagement with employees, customers and suppliers’.

Foolish takeaway

Simble sounds quite promising and could be one to watch if its service becomes popular. Neither company really appeals to me, but I’ll be interested to follow how they do over the next year.

Instead, I think these top stocks will make better investments today.

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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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