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:
Golden State Mining Limited (ASX: GSM)
Golden State Mining's 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 was looking to raise $5.5 million at $0.20 per share and then list on 8 November 2018. It finished today at $0.18, meaning it has fallen 10% since listing.
Hearts and Minds Investments Limited (ASX: HM1)
Hearts and Minds Investments' 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 was looking to raise $500 million at $2.50 per share and then start trading on 14 November 2018. It finished today at $2.54, so it has gone up 1.6% since it listed.
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.
Moho Resources was looking to raise $6 million at $0.20 per share and then start trading on 7 November 2018. It finished trading today at $0.145, meaning it has gone down 27.5% during its early listed life.
Foolish takeaway
It may be of little surprise that the mining companies have fallen by double digits since listing. I think the Hearts and Minds LIC could be one to watch – I look forward to seeing what its initial portfolio looks like.
However, for now I'm drawn to proven investment winners for my portfolio like these ASX top stocks.
