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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:

Galileo Mining Limited (ASX: GAL)

Galileo Mining is a mining exploration company, it’s exploring for cobalt and nickel resources in Western Australia. Both resources have done quite well in recent years and the vast Western Australia region is known for its abundant resource locations.

The company was hoping to raise $15 million at $0.20 per share and start trading on 11 May 2018. However, the company hasn’t made it onto the ASX boards yet.

The ASX doesn’t yet have another date for the listing of Galileo.

Star Combo Pharma Limited (ASX: S66)

Star Combo describes itself as a leading distributor and manufacturer of premium health and natural beauty products. Based in Sydney, the company says it distributes products to both Australian and overseas markets. The company says that it has been achieving double digit growth since its establishment in 2004.

The company was originally looking to list on 11 May 2018 at $0.20 per share. The listing date has changed to tomorrow, 16 May 2018. So we’ll have to wait to see how it does.

Foolish takeaway

It’s quite disappointing when both of the shares don’t end up listing when expected. I don’t think I will be interested in investing in either company, but I think Star Combo is more likely to do better of the two.

Instead, I’d much rather put my money into one of these top stocks instead.

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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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