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:

Moho Resources NL (ASX: MOH)

Moho Resources’ principal activity is as a mining exploration company.

The company will have stakes in permits in three different projects – two in Western Australia and one in Queensland. The main minerals that Moho is looking to develop are gold and nickel.

It was looking to raise $6 million at $0.20 per share and then start trading on 28 September 2018. However, it doesn’t appear to have made it onto the ASX boards and the ASX hasn’t updated when it expects it to try to list again.

Montem Resources Limited (ASX: MR1)

Montem Resources’ principal activity is as a coal exploration and development company.

Montem Resources aims to explore and develop multiple coking coal mines from its existing ‘Chinook Properties’ in Alberta, Canada. The assets are based next to existing mines that have previously exported coal to Japan. The company is restarting the Tent Mountain mine, which is projected to start production within two years.

It was looking to raise $20 million at $0.50 per share and start trading on 27 September 2018. It also seems to not have made it onto the ASX boards, with no new expected listing date from the ASX.

NB Global Corporate Income Trust (ASX: NBI)

NB Global Corporate’s principal activity is as a listed investment trust (LIT).

It looks to provide investors with stable and consistent monthly income with exposure to global high yield corporate bonds. It has a target distribution of 5.25% per annum after fees, paid monthly.

It was looking to raise $500 million at $2 per share and then start trading on 26 September 2018. Thankfully, it did make it onto the ASX and finished trading yesterday at $2.03, meaning it has gone up 1.5% in the short time since listing.

Foolish takeaway

The only one that seemed worth investing in to me was the one that made it onto the boards. However, the bond market is not the place I would go looking for income, I’d rather go for quality ASX companies with growing dividends. Rising interest rates could hurt bonds.

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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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