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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:

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 NL (ASX: MOH)

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.

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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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