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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.

If you want to learn more about a share below, I suggest you dig into the prospectus.

Here are how the latest ASX Ltd (ASX: ASX) shares fared:

Althea Group Holdings Limited (ASX: AGH)

Althea’s principal activity is holding a number of licenses and permits for the importation, cultivation, production and supply of medicinal cannabis in Australia.

It’s based in Victoria and wants to improve the lives of patients suffering from debilitating conditions by facilitating access to high-quality medicinal cannabis.

It was looking to raise $19.65 million at $0.20 per share and then start trading on 21 September 2018. It finished yesterday with a share price of $0.66, meaning it’s gone up 230% in quick order. Excitement for shares in the sector has not died down in recent months.

identitii Limited (ASX: ID8)

identitii’s principal activity is as a fintech company.

identitii aims to allow banks to move away from customer level information to detailed information about each and every transaction regarding the purpose and participants.

It was looking to raise $11 million at $0.75 per share and then start trading on 19 September 2018. Sadly, it didn’t make it onto the boards, the ASX hasn’t updated when it expects the company to try listing again.

QEM Limited (ASX: QEM)

QEM’s principal activity is as a mineral exploration business.

QEM firmly believes that vanadium will play an integral part in the future of the renewable energy market. QEM anticipates this to be achieved through the increasing demand and use of vanadium redox flow batteries as a viable form of renewable energy storage. vanadium is a chemical element.

It was looking to raise $5 million at $0.20 per share and then start trading on 20 September 2018. Sadly, QEM also didn’t make it onto the boards and the ASX hasn’t updated when it expects QEM to list.

Security Matters Limited (ASX: SMX)

Security Matters’ principal activity is as a ‘categorisation’ technology business.

Security Matters owns and commercialises technology to permanently and irrevocably ‘mark’ any object either solid, liquid or gas, allowing identification, proof of authenticity, tracking supply chain movements & quality assurance for countless products in virtually every industry.

It was looking to raise $6.5 million at $0.20 per share and then start trading on 18 September 2018. Security Matters was another that didn’t make it onto the boards, and again there is no new expected listing date.

Stealth Global Holdings Ltd (ASX: SGI)

Stealth Global’s principal activity is as a global distribution group supplying an extensive range of safety, industrial, healthcare and workplace consumable products to business customers.

Stealth was founded in Perth in 2014, supplying safety, industrial, healthcare and workplace consumable products to business customers in Australia, Africa, UK, Europe and Asia.

It was looking to raise $12.5 million at $0.20 per share and then start trading on 19 September 2018. Stealth Global was yet another that didn’t make it onto the ASX boards and it doesn’t have a new expected listing date.

Vintage Energy Ltd (ASX: VEN)

Vintage Energy’s principal activity is likely to be to explore for natural gas assets.

Vintage is looking to take advantage of the current energy situation in Australia by drilling for gas in South Australia, where the government is apparently supportive of the industry due to its recent energy policy.

It was looking to raise $30 million at $0.20 per share and then start trading today. It finished the day at $0.215, so it has risen 7.5% since last week.

Foolish takeaway

I suppose it’s no surprise that so many of the potential IPOs didn’t actually make it. None of the above businesses personally interest me, which is why they’ll be staying on my watchlist, but I wish them all the best.

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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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