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Upcoming IPOs this week

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.

A new float is usually when a private company is looking to sell a small or large portion of the business to new investors. The funds are typically needed for the growth of the business, such as buying property, funding product development or making an acquisition.

According to ASX Ltd (ASX: ASX) there are a few upcoming listings:

Nickel Mines Limited (ASX: NIC)

Its principal activity is nickel mining.

This company wants to become a globally significant, low cost producer of ‘Nickel Pig Iron’, which is a key ingredient for the production of stainless steel.

Nickel Mines holds an 80% economic interest in the Hengjaya Mineralindo Nickel Mine, which is located in Central Sulawesi, Indonesia.

The company has a collaboration and subscription agreement with Tsingshan, China’s largest stainless steel producer.

It’s looking to raise $200 million at $0.35 per share and then start trading on the ASX on 20 August 2018.

Tempus Resources Ltd (ASX: TMR)

Its principal activity is also mineral exploration.

The company has a 90% interest in a business which is the registered holder of the Montejinni Project in the Northern Territory and the Claypan Dam Project in South Australia. Its focus will be looking for copper but it will also look for other resources.

Tempus Resources is looking to raise $5 million and then start trading on 15 August 2018.

Foolish takeaway

Only two IPOs this week. I’m generally not interested in either of these businesses because they are resource companies and generally don’t have much of a competitive moat compared to businesses in other industries. I wish their stakeholders all the best.

Instead, I think one of these top shares which have a proven track record of growth would be better for your portfolio.

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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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