Australian share market updates for the week ending 10 January 2021
- Chart of the week;
- Upcoming and recent IPOs;
- Director trades;
- Buybacks; and
- Short sales.
Chart of the week
Upcoming Initial public offerings (IPOs)
Companies that have recently applied to the ASX for listing. Click here for a full list of upcoming ASX IPOs.
No new companies this week.
Companies that commenced trading this week.
Truscreen Group Ltd (ASX: TRU) is an NZX listed company, that applied for duel listing on the ASX. Truscreen is the manufacturer and owner of the TruScreen cervical cancer screening system.
TRU raised NZ$2,000,000 by the issue of 28,571,428 shares at an issue price of NZ$0.07 per share.
The company listed on Wednesday at $0.098 and finished the week at $0.165.
Torrens Mining Ltd (ASX: TRN) is focused on exploration for gold, copper and cobalt through its positions in the Victorian Goldfields and the Elizabeth Creek copper-cobalt project in South Australia.
TRN raised $10 million by the issue of 50 million shares at an issue price of $0.20 per share.
The company listed on Thursday at $0.32 and finished the week at $0.29.
Director buys can be a sign that those with the most insight into a company view its shares as undervalued. Knowledgeable “insiders” are the best placed to know what a share is really worth. One or two trades may not be significant, but a larger number by different directors can warrant further investigation.
Click here to purchase a spreadsheet of on-market ASX director trades for the last six months.
Companies with two or more directors buying and no sells in the last 30 days, not mentioned in previous newsletters.
Regis Resources (ASX: RRL) is a gold miner with operations at the Duketon Gold Project in the North Eastern Goldfields of Western Australia and the McPhillamys Gold Project in the Central Western region of New South Wales.
A buyback, also known as a repurchase, is the purchase by a company of a portion of its outstanding shares. This reduces the number of shares on issue so increases the earnings per share, all else being equal. A company will usually buy shares back when they see them as good value.
Click here for the latest buyback announcements.
No new buybacks announced this week.
Shorting a share is betting the price will decrease. It can pay to check short positions in a share you are considering purchasing.
Click here for a full list of shorted ASX shares.
The below table shows the twenty most shorted shares on the ASX. Data is lagged 4 days.
Highlighted companies are new entrants from last week.
“It’s remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” – Charlie Munger
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Sharp Investor owns ASX listed stocks: ACR, ARL, ALQ, BRV, CDX, CDXO, COL, CYP, DDR, DHG, EVN, EXR, FBR, FID, FRI, GGG, GOR, IGO, IRI, MGX, MNY, OZL, PRO, SBM, SRG, SXE, VXR, WSA, WTL