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:

Evans & Partners Australian Flagship Fund (ASX: EFF)

This is a fund that will invest in a portfolio of 20 to 40 ASX shares that the fund believes will deliver sustainable earnings growth and return on capital. It will be targeting a 5% yield on the net asset value of the units.

Yesterday, the company announced that its NTA had grown to $1.56, meaning it has grown its NTA by 4%.

GeoCrystal Limited (ASX: GDC)

This is an Australian-based exploration company focused just on diamond exploration and discovery in Australia.

It was meant to start trading on 29 June 2018 at $0.20 per share, but it didn’t make it onto the ASX boards. The ASX hasn’t yet updated when Geocrystal is expected to list.

Serko Limited (ASX: SKO)

Serko is a cloud-based corporate travel booking and expense management solution.

It finished its first day of trading at $2.83 and is currently $2.69, which means it has fallen about 5% in that time. However, today it announced an agreement with Orbit World Travel, New Zealand’s largest travel management company, so that could turn sentiment around.

Trigg Mining Ltd (ASX: TMG)

It’s based in Western Australia and is targeting the exploration of the macro fertiliser, Sulphate of Potash (SOP), for food crops around the world.

Trigg was looking to start trading on 28 June 2018 at $0.20 per share, but it hasn’t made it onto the boards. There isn’t a new expected date for listing.

Wide Open Agriculture Ltd (ASX: WOA)

The company seeks to regenerate ecosystems and communities in the Western Australia Wheatbelt. It is also operating a regenerative farmland management project in WA.

It was looking to start trading on 26 June 2018 at $0.20 per share but it didn’t make it onto the ASX boards. The ASX hasn’t said when it expects Wide Open to start trading.

Foolish takeaway

Nothing too exciting from this week. The two I thought might be interesting are the only two that made it onto the ASX. Evans & Partners has made a decent start whilst Serko could be one to watch if it starts expanding into other countries.

For now, I’d rather put my investing money into one of these top stocks.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of ASX Limited. 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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