How these IPOs fared 1 week later

Here's how the latest IPOs fared.

Tristan Harrison

Tristan Harrison is one of the longest-serving writers at The Motley Fool Australia. Tristan has been contributing ASX news and stock analysis articles since 2016. His aim is to help Australians learn about great ASX shares, with a focus on ASX dividend shares and undervalued ASX growth shares. He holds an advanced diploma from the Association of Accounting Technicians and is enrolled in the Chartered Institute Management Accountant (CIMA) qualification program.

Published January 30, 2018 10:09 am AEDT

I like to cover how last week's IPOs did on the market, so I can see whether investors feel like there's something to like about the company or not.

Here's how the latest shares which were meant to list performed:

Power Asia Limited (ASX: P88)

Power Asia was meant to list on 23 January 2018.

It sounds like a promising business with its main activities in renewable energy. It has a major presence in Victoria and Queensland as a renewable energy installer and it also has a presence in South East Asia as an expert in hydro, thermal and solar power.

The business was hoping to raise $9,000,000 but it hasn't listed yet.

The listing date is now 'to be announced' on the ASX site.

Tao Commodities Ltd (ASX: TAO)

Its proposed listing date was 22 January 2018.

Its principal activity is mineral exploration and was hoping to acquire mining rights in the USA.

Tao was hoping to raise $4,750,000 but it didn't end up listing on the expected date. Its listing date is also set as 'to be announced' on the ASX site.

Foolish takeaway

It's disappointing that neither company listed, so keen investors will need to keep a lookout for when they do list. Personally, I wouldn't invest in Tao because of how speculative it is, but Power Asia could tap into the growing renewable energy tailwind.

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.