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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:

Australian Governance and Ethical Index Fund (ASX: AGM)

This fund looks to give investors exposure to a portfolio of Australian equities that exhibit strong governance frameworks, undertake sustainable operating practices and are committed to overall corporate social responsibility. Of course, it also wants to create long-term capital growth.

The issue price was meant to be around $1.75 and it’s now trading at $1.85, so it has been a pleasing 5.7% start to the fund’s life. However, it appears to be investing in most of the ASX100 constituents, so it doesn’t offer investors a vastly different investment to other index products.

Calix Limited (ASX: CXL)

Calix says that it uses a patented kiln to create minerals, which are safe and environmentally friendly, to improve waste water treatment and phosphate removal, help protect sewer assets from corrosion, and help improve food production from aquaculture and agriculture with reduced anti-biotics, fungicides and pesticides.

It has several large investors supporting it. It was raising money at $0.53 per share and it’s now trading at $0.82 per share. There has been a lot of interest in this one, the share price is already up by more than 50%.

Coolgardie Minerals Limited (ASX: CM1)

The company is looking to develop the gold and mineral potential of the Bullabulling Project Area, near Kalgoorlie in Western Australia.

It appears as though Coolgardie didn’t make it onto the ASX boards and there is no new expected date for it to list according to the ASX.

Kingwest Resources Limited (ASX: KWR)

The company’s focus is gold exploration in the Eastern Gold Fields Region of Western Australia.

It was looking to start trading on 19 July 2018 but it appears as though it didn’t make it onto the boards and there isn’t another date for listing according to the ASX.

Foolish takeaway

It was probably no surprise that the resource exploration businesses didn’t make it onto the boards. Calix appears to be the only one that investors should be looking at that could add value and a difference to a portfolio. I’m going to keep my eye on Calix, but it’s not my type of investment. At least until it has reported a couple of reports to the ASX.

If I were investing today I’d much rather put my capital into one of these top growth shares at the current prices.

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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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