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…
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 is an upcoming listing, as well as two scheduled for last week that I didn’t cover:
Golden State Mining Limited (ASX: GSM)
Its principal activity is mining exploration.
The company has three prospective projects in Western Australia. The Cue Project is located in a historic gold mining region and the Yule project is located in an ‘emerging’ gold and lithium area. The Four Mile Well Project is located in a region where other major gold deposits had been found.
The company is looking to raise $5.5 million at $0.20 per share and then list on 8 November 2018.
Hearts and Minds Investments Limited (ASX: HM1)
Its principal activity is as a listed investment company (LIC).
It aims to provide shareholders with a portfolio of some of the highest-conviction ideas from leading fund managers, whilst also providing funding for medical research.
The five core fund managers are Caledonia, Cooper Investors, Magellan Financial Group Ltd (ASX: MFG), Paradice Investment Management and Regal Funds Management. These core managers will choose around 15 ideas.
A further 10 shares will be chosen by fund managers at the Sohn Hearts and Minds Investment Leaders Conference.
The medical research support will be funded by a donation of 1.5% per annum of NTA. The charities include: Victor Chang Cardiac Research Institute, Black Dog Institute, Brain and Mind Centre – Sydney University, The Charlie Teo Foundation, The Children’s Hospital at Westmead – Paediatric Intensive Care Unit – Research, The Florey Institute of Neuroscience and Mental Health, The Centre for Human Psychopharmacology – Swinburne University, Multiple Sclerosis Research Australia Limited, Orygen and Royal Prince Alfred Hospital – Research. Lots of worthy causes.
It’s looking to raise $500 million at $2.50 per share and then start trading on 14 November 2018.
Moho Resources NL (ASX: MOH)
Its 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 7 November 2018.
I’m personally not interested in mining companies, but the Hearts and Minds LIC could be an interesting one to watch. I don’t plan to immediately invest, but if it appears to have a good set of picks I may decide to buy into it.
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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.