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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 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:

Adriatic Metals Plc (ASX: ADT)

Adriatic is a UK company that is focusing its efforts on exploring and developing its 100%-owned zinc polymetallic projects in Bosnia & Herzegovina in Europe.

The company raised money at $0.20 per share and it’s currently trading at $0.20 per share after dipping slightly lower. It’s unsurprising that the share price hasn’t done much in a week, as that’s such a short amount of time.

Metals 479 Ltd (ASX: ML7)

Metals 479 has acquired a location in Nevada that is in a ‘prolific’ belt of gold and silver deposits.

The company was hoping to raise $7 million at $0.20 per share and start trading on 1 May 2018. However, it did not manage to get onto the ASX boards on the expected date. The ASX does not yet have another expected date for when Metals 479 will try to list again.

Microequities Asset Management Group Limited (ASX: MAM)

MAM is a fund manager that runs a few different funds that focus on microcaps. It invests in ASX listed companies with market capitalisations less than $250 million and global listed companies with a market cap below US$300 million.

It raised money at $0.80 per share and it’s currently trading at $0.77 per share, so it will have to prove to investors with capital inflows and outperformance that it can continue growing funds under management from here.

Foolish takeaway

Of the three, I’m only interested in Microequities Asset Management Group. Fund managers should do well out of the growing superannuation pool and I’m not interested in investing in speculative resource shares.

I want growth, I’d much rather invest in these top shares instead which are more likely to grow my wealth.

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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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