Motley Fool Australia

Upcoming IPOs this week

Initial Public Offering (IPO)

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:

Galileo Mining Limited (ASX: GAL)

Its original proposed listing date was 11 May 2018, now it’s 29 May 2018.

Its principal activity is the exploration of mineral resources.

Galileo Mining says that it is 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 is hoping to raise $15 million at $0.20 per share.

OneMarket Limited (ASX: OMN)

Its proposed listing date is 31 May 2018.

Its principal activity is retail data analysis and utilisation.

OneMarket says that its aim is to use tools like natural language processing and AI to help retailers overcome data, technology, and speed-to-market challenges. It is being spun out of Westfield Corp Ltd (ASX: WFD), Unibail-Rodamco-Westfield will retain 10% of the business. It will start with $160 million cash and equivalents.

It’s not raising cash, it’s listing through a demerger. Existing Westfield shareholders will hold 90% of the business.

PayGroup Limited (ASX: PYG)

Its proposed listing date is 29 May 2018.

Its principal activity is human resource management.

The payroll services business contributes a majority of the revenue, whilst the human capital management software is another offering.

It’s looking to raise $7.5 million at $0.50 per share.

Unibail-Rodamco-Westfield (ASX: URW)

Its proposed listing date is 31 May 2018.

Its principal activity is owning and operating a commercial property portfolio in Europe, United Kingdom and United States, predominately shopping centres and also offices and convention & exhibition centres.

This is the business that just acquired Westfield and now it’s issuing CHESS Depositary Interests as part of the deal.

Foolish takeaway

The two Westfield-related shares could be interesting options over time, although I’m a bit bearish on physical retail stores due to online shopping.

Where to invest $1,000 right now

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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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