2 ASX shares to buy you haven't thought of: expert

Here are a couple of companies not on your radar that a fund manager is recommending you buy at current cheap prices.

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There are more than 2,100 companies listed on the ASX, so it's impossible for any one human to keep track of them all.

So it should not surprise you that there are a few bargains that you may not have thought of yet.

Red Leaf Securities chief John Athanasiou suggested two such ASX shares that you may want to consider picking up:

Can this airport hit the jackpot like Sydney did?

Now that Sydney Airport shareholders have been paid out after its private buyout and delisting, Auckland International Airport Limited (ASX: AIA) has become the big aviation infrastructure play.

Athanasiou sees excellent upside for the airport in New Zealand's biggest city.

"A positive for Auckland International Airport is the New Zealand Government bringing forward its plans to re-open the country's borders to international travellers," he told The Bull.

"The return of international travel may encourage AIA management to resume dividends."

According to The Motley Fool website, the company has not paid out a dividend since 2009. However, CMC Markets forecasts a 5.8 cents per share payout in 2023 and a 15.3 cent yield in 2024.

The resumption of dividends would be a massive catalyst, said Athanasiou. Maybe it will even end up with the same fate as its Sydney cousin.

"If the company starts paying dividends, AIA is likely to attract interest from global funds seeking yield from quality infrastructure assets."

Auckland Airport shares have dipped more than 4% for the year so far. The stock price hasn't yet approached its pre-COVID peaks.

Cashed-up Aussies spend big on pets

Online marketplace Mad Paws Holdings Ltd (ASX: MPA) only listed 13 months ago, hoping to ride the huge interest in growth stocks.

The company claimed at the time the initial public offer was oversubscribed four times over.

The recent market rotation to cyclicals has unfortunately meant the stock price has merely gone sideways from its IPO price of 20 cents per share.

But Athanasiou is upbeat after his team visited the business in real life recently.

"The pet chemist business is potentially the most lucrative segment of the company's operations, as it's able to sell pet pharmaceutical products at an attractive premium to repeat customers," he said.

"There's plenty of room for growth for the pet chemist business, as it uses the Mad Paws platform to sell their products."

Athanasiou told The Motley Fool in February that Australians are "not shy" of spending big on their fur (or feather) children.

"We all know tailwinds in the industry of increased levels of pet ownership. Everyone bought a pet during lockdown to have some company."

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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