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