How these IPOs fared 1 week later

This is how the latest shares listing on the ASX performed.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on Capital Raising

A man sits in a chair hunched over a laptop and covered head to toe in frozen icicles to represent Envirosuite's trading halt
Capital Raising

Up 102% in 2024, here's why this ASX All Ords stock is now frozen

Seize the day. This company is ready to cash in on its renewed image.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Materials Shares

Why is this ASX 300 battery materials stock crashing 20% today?

Its shares are now down by 67% since this time last year.

Read more »

A man with a heavy facial hair growth and a comical look on his face holds his hands in a 'time out' gesture.
Energy Shares

Up 90% in a year, why is this ASX 300 uranium stock suddenly halted?

Here's why this high-flying stock is out of action today.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Mergers & Acquisitions

Why are Metcash shares tumbling today?

This wholesaler has just received a $300 million cash injection.

Read more »

A man sitting at a computer is blown away by what he's seeing on the screen, hair and tie whooshing back as he screams argh in panic.
Materials Shares

Why is the Arafura share price sinking 17% today?

It has been a tough session for this rare earths stock. But why?

Read more »

Two happy pharmacists standing together in a pharmacy.
Capital Raising

Own Sigma shares? Everything you need to know about the 'transformational' $8.8b merger with Chemist Warehouse

Here's what you need to know about this mega merger.

Read more »

Close up of a sad young woman reading about declining share price on her phone.
Energy Shares

Why is the Boss Energy share price sinking 5% today?

This uranium share is raising funds. But why?

Read more »

a man in a suit holds up a hand and a stop sign at a roadblock positioned over a bitumen road .
Capital Raising

Why are Boss Energy shares in a trading halt?

This uranium share is raising funds. But why?

Read more »