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.
If any of the below shares sound interesting, you should read the prospectus to see if you want to invest.
According to ASX Ltd (ASX: ASX) there are a few upcoming listings:
Coronado Global Resources Inc. (ASX: CRN)
Its principal activity is mining coal.
It operates coal mining in one location in Queensland’s Bowen Basin and three locations in the Central Appalachian region of the US. It generated more than more than 20 million tonnes of saleable coal production in the 2017 calendar year.
It’s looking to raise $531 million by issuing CHESS Depository Interests (CDI) at $4.40 each, then listing on the ASX on 23 October 2018.
International Cobalt Resources Limited (ASX: ICR)
Its principal activity is exploring and mining for cobalt.
The company has secured a number of tenements, including some near the aptly-named Canadian town of Cobalt in Ontario. It hopes to mine cobalt, nickel and gold. Canada will be the main focus but is also looking for locations in other countries.
It’s looking to raise $6 million at $0.30 per share and then list today, 22 October 2018.
Shekel Brainweigh Ltd (ASX: SBW)
Its principal activity is ‘technology’.
The Israel-based business has been developing, manufacturing and distributing advanced weighing technology solutions for the retail, healthcare and manufacturing markets for over 40 decades.
It is now researching and developing a number of products for the retail industry such as a ‘product-aware’ shelf that knows what is on it and can provide feedback on inventory levels. Another example is a digital scale at supermarkets which recognises the fruit, vegetable or meat that is being weighed.
It’s looking to raise $10 million at $0.35 per share and then list on 26 October 2018.
Straker Translations Limited (ASX: STG)
Its principal activity is translation services.
Straker describes itself as the world’s leading translation technology platform so that its clients can sell products and services in any language. It boasts that a number of large businesses have used its services such as Caterpillar, Barclays and Garmin.
It’s looking to raise $21 million at $1.51 per share and then start trading at midday today.
Quite an interesting mix of companies listing this week. Whilst I’m not personally going to invest in any of them, the ideas of Straker and Shekel sound thought-provoking. So, I’ll remain on the sidelines and watch their progress with interest.
A growth share I’m much more interested in is this top share which just doubled its profit in FY18.
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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.