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…
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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:
Heartland Group Holdings Limited (ASX: HGH)
Its principal activity is financial services.
It is a New Zealand based bank that operates through several brands including CBS Canterbury, Southern Cross Building Society, PGG Wrightson Finance and MARAC.
Heartland is simply listing on the ASX too, and remaining on the New Zealand Exchange, so it’s not raising any capital. It should hit the ASX boards on 1 November 2018.
Nanoveu Limited (ASX: NVU)
Its principal activity is as a technology company using nanotechnology for vision purposes.
EyeFly3D is a nano-imprinted screen protector for mobile devices that enables 3D entertainment viewing of image, videos and games without the need for 3D glasses. It also has an app to turn 2D images and videos into 3D.
It’s looking to raise $6 million at $0.20 per share and then list on 1 November 2018.
Norwest Minerals Limited (ASX: NWM)
Its principal activity is as a gold and other metals exploration business.
Norwest Minerals has secured an extensive portfolio of prospective gold and base-metal properties in Western Australia. It wants to become a mineral producer if it can establish a mine at a viable resource.
It has raised $6.6 million at $0.20 per share and is looking to start trading on the ASX today, 29 October 2018.
Wiseway Group Limited (ASX: WWG)
Its principal activity is the provision of services to export and import of goods via air freight, sea freight, domestic transport, customs clearance and quarantine and third-party logistics services.
Wiseway describes itself as one of the country’s leading freight forwarding companies.
It’s looking to raise $26 million at $0.50 per share and then list on 31 October 2018.
A very interesting group of businesses to hit the ASX this week. I can see Heartland generating quite a bit of interest over time. However, none of them operate in an industry that personally interests me for now. However, I’ll be interested to see how they do over time.
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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.