Whilst the explosive backdoor listing of Bubs Australia Ltd (ASX: BUB) in January may have grabbed a lot of the headlines, it's not the only company to have hit the ASX boards in the last couple of months.
Three other recent listings which I think investors should keep a close eye on are as follows:
Automotive Solutions Group Ltd (ASX: 4WD)
Automotive Solutions is an aftermarket products provider for the four-wheel drive market. Whilst it hasn't had the best of times since listing on the ASX in December, I believe the 13% post-IPO drop in its share price is an opportunity for investors to buy in at a great price. Thanks to the above trend sales growth in the 4X4/SUV category, I believe Automotive Solutions is in a great position to grow its top line at a solid rate over the next few years.
Freedom Insurance Group Ltd (ASX: FIG)
Freedom Insurance is an Australian-based insurance business specialising in the development, distribution, and administration of life insurance products. Since listing on the ASX at 35 cents in December its shares have rallied a remarkable 77% to 65 cents. It isn't hard to see why either. Within two weeks of listing the company upgraded its full-year pro forma profit guidance from $8.4 million to $11.4 million. Despite the rally I estimate its shares to be changing hands at just 14x forward earnings.
Murray River Organics Ltd (ASX: MRG)
Another recent listing is Murray River Organics. Whilst it is still early days I'm optimistic that the organic healthy snacks company has a bright future ahead of it. The global certified organic food and drink market that the company operates in is estimated to be worth $104 billion a year. Currently the company's sales are predominantly in the Australian market, but the engagement of sales teams in key international markets should drive its exports in the coming years. At around 17x forecast FY 2017's earnings as per its prospectus, I feel Murray River Organics is good value for patient buy and hold investors.
