Directors’ Trades: Who bought their company’s ASX shares on market just 2 days post-IPO?

Director Trades Nick Sundich
ASX post-IPO

Two days after DGL Group (ASX:DGL) listed, the company’s founder Simon Henry bought 100,000 more of its shares on market.

The Auckland-based trans-Tasman chemicals, logistics and waste management company listed on May 25 at $1 per share with Henry as a 57 per cent shareholder.

The company said the purchase – on May 27 – was made “in-line with Simon’s intention to retain a majority shareholding in the company”.

DGL is up over 27 per cent from its listing day. It is not the only industrial play to list on the ASX in recent months or even one to have a founder buy on market post-IPO.

Maas Group (ASX:MGH) came onto the bourse last December and its founder Wes Maas bought over $6 million of his company on market.

He owned 77 per cent prior to the IPO but sold down to 55.6 per cent as part of Maas’ listing.

Code Company Director Change Date Volume $ What
WML Woomera Mining Kevin Seymour Buy 26 May 5,882,352 $100,000 Placement
ACW Acrow Formwork Steven Boland Buy 24 May 500,000 $180,000 On market
DGL DGL Simon Henry Buy 27 May 100,000 $122,057 On market
CUV Clinuvel Pharmaceuticals Philippe Wolgen Sell 31 May 102,700 $3,127,366 On market
AMP AMP Debra Hazelton Buy 1 June 89,286 $100,000 On market
CHN Chalice Mining Stephen Quin Buy 1 June 20,000 $175,496 On market
IVC InvoCare Olivier Chretein Buy 1 June 15,850 $161,195 On market
AAU Antilles Gold Brian Johnson Buy 1 June 6,000,000 $390,000 Rights Issue
INV InvestSmart Group Ron Hodge Buy 1 June 700,000 $118,200 On market
CLB Candy Club Chi Kan Tang Buy 31 May 1,082,253 $153,838 On market
TNE Technology One Adrian Di Marco Sell 1 June 3,000,000 $26,100,000 On market
TNE Technology One John Mactaggart Sell 1 June 4,000,000 $34,800,000 On market
IVC InvoCare Kim Anderson Buy 2 June 10,000 $103,400 On market
APX Appen Mark Brayan Sell 28 May 109,430 $1,431,399 On market
DDR Dicker Data Fiona Brown Buy 1 June 511,932 $4,837,911 Dividend Reinvestment Plan
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However the DGL trade was one of the smaller trades above $100,000. The largest were two trades from Technology One (ASX:TNE) directors Adrian Di Marco and John Mactaggart, who sold $26.1 million and $34.8 million respectively – adding to over $60 million.

Two other big sales came from Clinvel Pharmaceuticals’ (ASX:CVL) Phillipe Wolgen who sold $3.1 million “to meet personal commitments and annual rebalancing of portfolio” and Appen’s (ASX:APX) Mark Bryan who sold $1.4 million to pay a tax bill after vesting performance rights.

Returning to buyers and the biggest was Fiona Brown from Dicker Data (ASX:DDR) who acquired $4.8 million in shares as part of a dividend reinvestment plan.

There was only one other buy over $200,000 which came from Brian Johnson, director of WA gold play Antilles Gold (ASX:AAU). He purchased $390,000 as part of his company’s rights issue.

 

Smaller on market buyers

Despite most trades being on the smaller side, many of them came from interesting companies.

Chalice’s (ASX:CHN) Stephen Quin bought $175,496 in shares of his company, which has never looked back since discovering the Julimar nickel-PGE deposit in WA.

Debra Hazeton, chair of under siege financial services firm AMP (ASX:AMP) also made an on market purchase – of $100,000.

And Olivier Chretein of funeral provider InvoCare (ASX:IVC) bought $161,195 of shares on market. His company actually held its ground for much of the COVID-19 market crash – a move that happened arguably because investors thought COVID-19 would meant it would be a busy business.

While it was in other countries, it was not so in Australia. The company has continued to lag despite it and analysts backing the company reminding investors the only other certainty in life is taxes.

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