(12 October 2017, AFR, p25, by Simon Evans) ‘An extraordinary boardroom stoush has erupted at ailing ASX firm Automotive Solutions Group (ASX:4WD), with two separate shareholder meetings requisitioned to remove different directors from warring factions feuding over the downward spiral of the company. The toxic atmosphere in the boardroom has spilled into the public domain … Continue reading
(9 October 2017, The Age, BusinessDay, p18, John McDuling) ‘Before Atlassian became Australia’s undisputed innovation poster child, there was Freelancer. For a while – in the days before anyone really talked about the “gig economy” – the online outsourcing marketplace was considered the great hope of the nation’s tech industry.’ <snipped…> ‘Back in 2013, Freelancer listed … Continue reading
(6 October 2017, AFR, p26, by Chiara Remondini and Tommaso Ebhardt) ‘Initial public offerings are booming in Milan as investor demand for Italian assets drive company listings to the highest level in at least a decade. Pirelli & Co’s return to the market on Wednesday makes it the 30th company to join the Italian Stock Exchange this year, … Continue reading
(6 October 2017, AFR, p25, by Jessica Sier) ‘The husband-and-wife team behind the nation’s first listed daigou business enjoyed a $9.6 million paper windfall on Thursday as shares in AuMake Australia nearly tripled on its ASX debut. AuMake, headed by Joshua Zhou and Lynn Zheng, raised $6 million from institutional and private investors to fund its growth strategy.’ ‘AuMake Australia has built a … Continue reading
(2 October 2017, The Age, BusinessDay, p18, Clancy Yeates) ‘The market for new company listings in Australia is suffering its weakest period in half a decade, with investors taking a cautious view towards initial public offerings and several planned major floats being called off in favour of trade sales. The value of new initial public … Continue reading
(13 September 2017, AFR, p19, by Simon Evans) ‘Agricultural technology company CropLogic had a difficult start to life as an ASX-listed company on Tuesday but chief executive Jamie Cairns expects it will be a “reasonably temporary” blip. CropLogic uses a range of “internet of things” devices and equipment embedded in paddocks and fields to help … Continue reading
[COMMENT: The conclusion in this newspaper article is very similar to what I have reported previously on my Toolbox IPO web page, along with many share price charts to graphically show how an IPO stock performs over time.] (9 August 2017, The Age MONEY supplement, p2, Scott Phillips, The Motley Fool) ‘You’ve heard the hype. … Continue reading
[COMMENT: I never encourage participation in IPOs of any sort, based on personal experience many years ago, and observations since then – see more details here. But this news story might be of interest to keen investors and traders.] (26 July 2017, AFR, p22, by James Frost) ‘Mining minnows and medical marijuana stocks have been … Continue reading
[COMMENT: Any reasonable trader/investor who likes to protect their capital would surely have had a Stop Loss exit ready for this stock (in fact all stocks), and actually exercised it. Since listing in December 2015, the share price has seen a continual downtrend (and we know from Dow Theory that a confirmed trend is likely … Continue reading
[COMMENT: Most technical analysts who might have been holding this stock in late 2016, would have spotted the downtrend in late 2016, which continued into 2017, and they most likely sold their position to lock in profits and preserve their capital. See the chart below.] (14 June 2017, AFR, p19, by Simon Evans) ‘In just … Continue reading
[COMMENT (from a Technical Analyst): This news story certainly seems to be a good one for IPOs. but look at the price chart. After running nicely from June 2016 to a peak in Oct/Nov, the share price fell away, then trended higher again to a new peak in March 2017. But since then, the share … Continue reading
(8 June 2017, AFR, p26, by Misa Han) ‘This year’s biggest technology IPO to date is not a start-up, but a 15-year-old software company that has ruled out being the next Atlassian any time soon. As revealed by Street Talk in May, cloud human resources software company ELMO [ASX:ELO] will be listing on the ASX to raise $25 … Continue reading
(7 June 2017, The Age, BusinessDay, p23, Darren Gray) ‘Shares in Australia’s biggest dairy processor Murray Goulburn plummeted by 14.5 per cent to 73.5¢ on Tuesday, hitting all-time lows. The stock opened at 85¢ on Tuesday and went downhill fast, closing at a level that is barely half of what it was trading at last … Continue reading
(30 May 2017, AFR, p18, by Simon Evans) ‘Vacuum cleaner retailer Godfreys has downgraded its profit outlook after tough trading conditions and its 98-year-old major shareholder has provided a new $30 million loan at better terms than one which had been in place from the Commonwealth Bank of Australia. The company’s shares are now trading … Continue reading
(24 May 2017, The Age, BusinessDay, p22, Patrick Hatch) ‘Online fashion retailer SurfStitch is facing a $100 million class action launched on behalf of shareholders whose investments have been wiped out by the troubled company’s plunging share price. ‘ <snipped…> ‘SurfStitch listed at $1 in late 2014 and was trading at a record high of … Continue reading
(18 May 2017, AFR, p15, by Sue Mitchell) ‘Online retail juggernaut Amazon has claimed its first scalp – the $1.5 billion float of office products chain Officeworks – before even setting up shop in Australia. Wesfarmers abandoned plans for an initial public offering of Officeworks on Wednesday after fund managers made it clear they were … Continue reading
(17 May 2017, AFR, p8, by John Stensholt) ‘Frank Costa’s Costa Group (ASX:CGC) has been a rare success: a successful ASX listing involving private equity. The fruit and vegetable company, which Costa and Paine Schwartz Partners floated in July 2015, has been trading close to its April record high and its success has given Financial … Continue reading
(16 May 2017, AFR, p22, by John McDuling) ‘One of the sorriest episodes in the recent wave of start-up mania in Australia is drawing to its conclusion. And there is much to be learned from it. Late on Friday, in a classic case of taking out the trash when you think nobody’s looking, Gold Cost … Continue reading
(4 May 2017, AFR, p17, by Simon Evans) ‘The chief executive of Bingo Industries, Daniel Tartak, says the fact his own personal holding is worth around $105 million on paper after listing on the ASX on Wednesday won’t change him one bit. “It doesn’t change things. I’m still relatively young and I’ve got a long … Continue reading
[COMMENT: This is a news story about IPO results in recent years and implies that investing in an IPO might be profitable. However, as everyone knows, it pays to be careful, do due diligence, and weigh up all the facts, and seek the advice of a properly trained and qualified investment professional before making an … Continue reading
(30 March 2017, AFR, p25, by John Stensholt) The Australian Financial Review looks at how the wealthy are making money for our column: How the rich invest. ‘Frank Costa has played an integral role in a rare event on the ASX: a successful float involving private equity. His fruit and vegetable giant, Costa Group, which … Continue reading
(23 March 2017, AFR, p17, by James Frost) ‘The listed investment company established by stock pickers at Fat Prophets got off to an encouraging start on low volumes after making its ASX debut on Wednesday morning. After opening at 11am, the Fat Prophets Global Contrarian Fund made its debut with a cross trade at $1.50 … Continue reading
(13 March 2017, AFR, p15, by Tess Ingram) ‘More mining and exploration companies could list on the ASX in the first quarter of 2017 than in the whole of 2016 as commodity price stability encourages investors to revisit more speculative stocks. So far this year the ASX has hosted eight materials initial public offerings. Another eight … Continue reading
(7 February 2017, AFR, p23, by Yolanda Redrup) ‘Tech stocks that listed on the ASX in 2016 have comfortably outshone their counterparts from other sectors, with stronger returns for shareholders in their first year of public life. A new report from OnMarket BookBuilds, a platform that gives retail investors access to initial public offerings, found … Continue reading
(24 January 2017, AFR, p32, by Larry Schlesinger) ‘Shares in struggling real estate group McGrath fell more than 17 per cent on Monday morning to just 71¢ – a third of their IPO value – after the company said low real estate listings and a loss of more than 10 per cent of its in-house sales agents meant … Continue reading
(24 January 2017, AFR, p20, by Simon Evans) ‘Apollo Tourism and Leisure’s chief executive says the motorhome industry is excited about the election of Donald Trump as US President. The company has a fleet of 600 motorhomes in the United States and chief executive Luke Trouchet says the entire industry is happily anticipating the prospect … Continue reading
(23 January 2017, TheAge, BusinessDay, p21, Simone Ziaziaris) ‘An influential fund manager is warning investors to be wary of recently listed companies when it comes to stock picking. Investment management firm Allan Gray Australia says companies that floated in the last three years disappointed in 2016, with none securing a spot in the 10 best … Continue reading
(17 January 2017, AFR, p23, by Sue Mitchell) ‘Kogan.com founder Ruslan Kogan is contemplating his second profit upgrade in three months after better than expected demand for products such as TVs, drones and power tools in the lead-up to Christmas. Mr Kogan has attributed strong trading in November and December to better…’ Read more at … Continue reading
(24 December 2016, The Age, BusinessDay, p3, Brian Robins) ‘Shaver Shop has emerged as the latest dud sharemarket float of 2016, warning investors that weak pre-Christmas sales will leave earnings short of the forecast included in its prospectus which was issued mid-year. On Friday, its shares slumped 14.7 per cent to 70¢, ending down by a third … Continue reading
[COMMENT: This article contains information about the performance of public floats in 2016, and the IPO outlook for 2017. You might also find my IPO review page worth reading…] (22 December 2016, AFR, p19, by Tony Featherstone) ‘The initial public offering (IPO) market is poised to rebound in 2017 as blockbuster IPOs return, corporates divest … Continue reading
