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 market 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:

Eden Health Industry Holdings Limited (ASX: ETK)

Eden Health Industry was meant to list onto the ASX on 20 March 2018 at $0.25, but sadly it didn’t make it to listing on that date.

Its prospectus says that the company is based in China and the main focus is the cultivation and sale of kiwifruits and related products. The services include discovery, development, manufacturing and sales of kiwifruit-related deep-processing products, including kiwifruit wine and kiwifruit tablets.

When the offer is complete the company will also acquire two Australian companies to gain access to Australian-made products which have a good reputation in China. In the long-term the company will look for further kiwifruit opportunities.

Eden Health was hoping to raise $20,000,000.

It remains to be seen when, or if, Eden will make it onto the boards. The new listing date is yet to be announced, according to the ASX. It could be an interesting one to watch if it does start trading.

Mako Gold Limited (ASX: MKG)

Mako was meant to list onto the ASX on 23 March 2018 at $0.20, but sadly it also didn’t make it to listing on that date.

Its website says that it is hunting high-grade gold discoveries in West Africa. It will use modern exploration methods and experienced people to follow-up on previously-identified locations by artisanal workings or previous explorers.

Mako Gold was hoping to raise $6,000,000.

We’ll have to see if Mako Gold makes it onto the boards, the ASX also states that the new listing date is yet to be announced.

Foolish takeaway

It’s quite disappointing when all of the shares expected to list in a week don’t end up listing. But, it shows a lot can go wrong with new ASX shares. I’m interested to see how Eden Health goes because there seems to be a growing demand for healthy food companies.

However, both are a bit too risky for me right now, so I’d rather invest my money in these top growth shares.

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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 Scott Phillips.

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