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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:

Keytone Dairy Corporation Limited  (ASX: KTD)

Keytone is a New Zealand based manufacturer and exporter of formulated dairy and nutrition powdered products. It has a number of dairy products and is already a sole contracter to Woolworths Group Ltd’s (ASX: WOW) New Zealand subsidiary, Countdown, manufacturing the branded Whole Milk Powder and Skim Milk Powder in the long term.

The company was meant to start trading last week but appears not to have made onto the boards. The ASX hasn’t updated when it expects Keytone to list again.

Neuroscientific Biopharmaceuticals Ltd (ASX: NSB)

The company is developing peptide-based pharmaceutical products that target a number of neurological disorders that have high unmet medical needs. The current R&D program is focused on developing a treatment for stroke-related brain injury and dementia / Alzheimer’s disease, and a diagnostic for early-stage Alzheimer’s disease.

Neuroscientific Biopharmaceuticals also didn’t make it onto the ASX boards last week. The new listing date is yet to be announced by the ASX.

Parazero Limited (ASX: PRZ)

Parazero’s product is called a SafeAir safety box which independently monitors the flight operation of the drone and if a failure occurs it can activate a patented ballistic parachute which also warns people underneath and communicates with the unmanned traffic system.

It raised money at $0.20 per share and now it’s down to $0.18 per share, so a disappointing 10% fall since it started listing.

Raiz Invest Limited (ASX: RZI)

Raiz used to be Acorns Australia, the investment app that people used to invest their change. It used to be a joint venture with Acorns US, but now the local Acorns is rebranding as Raiz. It now has $200 million of funds under management and 160,000 active monthly users. Acorns US is now a minority shareholder.

It raised money at $1.80 per share and it’s now trading at $1.40 per share, sadly a 22% fall off the bat.

WAM Global Limited (ASX: WGB)

WAM Global is the newest LIC from WAM and looks to give investors exposure to overseas shares. I wrote an article about it a few months ago.

It raised money at $2.20 and it’s currently trading at $2.20. I doubt there will be much movement in the share price until the first monthly net tangible assets per share (NTA) disclosure.

Foolish takeaway

No positive gains for any of the shares so far isn’t necessarily a bad thing – a week is a very short amount of time. The only share I’m interested in at the moment is WAM Global, indeed I already own some shares of the listed investment company (LIC). I’m hoping it delivers long-term market-beating returns whilst also being more defensive during down times due to its high cash levels.

Along with WAM Global, I'd also really like to add shares of one of these top stocks to my existing holdings in my portfolio.

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Motley Fool contributor Tristan Harrison owns shares of WAMGLOBAL FPO. 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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