Upcoming IPOs this week

Each week I like to look at the upcoming IPOs which are happening on the ASX. It gives me a chance to see if there are any future stars being listed and perhaps get in early on that success story.

Every single share that currently trades on the ASX was a newly-listed share at one point, they should not be avoided just because they are new.

Here are the latest shares to be listing according to the ASX:

Corona Resources Limited (ASX: CNA)

Its proposed listing date is 16 April 2018.

Its principal activity is mineral exploration and development.

Its website says that its management have a track record of discovery and development of mineral deposits globally. Corona is focused primarily on the exploration, discovery and development of mineral properties in Western Australia and Tasmania.

Corona is hoping to raise $6 million at $0.20 per share.

Jupiter Mines Limited (ASX: JMS)

Its proposed listing date is 18 April 2018.

Its principal activity is mining investment.

Jupiter Mines’ main asset is its 49.9% stake in Tshipi e Ntle, which is an independently operated and managed, black empowered manganese mining company. It’s a manganese mine in South Africa which has been open since 2012. Jupiter also has two iron ore projects in the Yilgarn region of Western Australia.

It’s looking to raise $240 million at $0.40 per share.

Tao Commodities Ltd (ASX: TAO)

Its proposed listing date is 16 April 2018

Its principal activity is ‘mineral exploration’. According to its prospectus it’s a ‘recently incorporated mineral exploration company focused on the identification, development and acquisition of mineral exploration properties.’

‘The company will acquire a package of a 100 Mining Rights over an 8.36km2 area located approximately 6km west of the town of Milford in Beaver County, Utah, USA.’

The business is hoping to raise $4,750,000 at $0.20 per share.

Foolish takeaway

Jupiter Mines is quite a big listing and it would be the only one I’d call investment-worthy at the moment, the other two are far too small for me to be interested. Resource companies aren’t attractive to me, personally.

I’d much rather invest in these top shares over any of the upcoming IPOs.

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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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