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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:

PVW Resources NL (ASX: PVW)

PVW Resources’ 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 was looking to raise $7 million at $0.20 per share and then list on 12 December 2018. However, it seems it didn’t make it onto the ASX and a new listing date is yet to be announced by the ASX.

Torque Metals Limited (ASX: TOR)

Torque Metals’ 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 was looking to raise $7 million at $0.20 per share and then list on 12 December 2018. But, it didn’t make it onto the ASX boards and the listing has been withdrawn according to the ASX.

Foolish takeaway

Neither of these businesses interested me as investment opportunities, it isn’t too surprising to see that neither of them made it onto the ASX last week. The rush of IPOs this week before the break should be more interesting to watch.

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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