How these ASX 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:

Heartland Group Holdings Limited (ASX: HGH)

Heartland’s 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 wasn’t raising any money, it was simply also listing on the ASX. It finished on 1 November 2018 at $1.47 and finished yesterday at $1.44, so it has fallen slightly.

Nanoveu Limited (ASX: NVU)

Nanoveu’s 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 was looking to raise $6 million at $0.20 per share and list last week. However, the tech company didn’t make it onto the ASX boards and there is no new expected listing date.

Norwest Minerals Limited (ASX: NWM)

Norwest Mineral’s 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 raised $6.6 million at $0.20 per share was looking to start trading on the ASX last week. However, it appears it didn’t make it onto the ASX boards and there is no new expected listing date.

Wiseway Group Limited (ASX: WWG)

Wiseway’s 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 was looking to raise $26 million at $0.50 per share and then list last week. However, the shares finished trade yesterday at $0.43, meaning it has fallen 14% since listing.

Foolish takeaway

A fairly low-key IPO week last week. I’m not personally attracted to any of them, although Heartland could become a decent option over time – but not at this point in the cycle in my opinion.

I’d much rather buy one of these leading shares for my 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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