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) these are some of the upcoming listings:
PVW Resources NL (ASX: PVW)
Its principal activity is as a mining exploration company.
PVW Resources is exploring for gold, it wants to begin for exploring of its 1000km2 land holding, having acquired three prospective tenement assets (Mt Clifford, Gordon Sidar and Tanami) in Western Australia.
The company is looking to raise $7 million at $0.20 per share and then list on 12 December 2018.
Torque Metals Limited (ASX: TOR)
Its principal activity is being a mining exploration business.
Torque Metals is also targeting gold with a focus on Western Australia. For example the Catherine Gold Prospect is adjacent to the Cornishman and Minjar's Axehandle deposits and another location that's 20km2 east of the Minjar Copperhead gold mine.
Torque Metals is looking to raise $7 million at $0.20 per share and then list on 12 December 2018.
Foolish takeaway
I wish both of these gold miners success, but they're not the type of investments I'm looking for my portfolio. It must be a sign of the volatile times and time of year that it's gold miners coming onto the ASX this week.
