Trading Places: Which recent ASX IPO saw investees top up their holdings on market?
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Trading Places is Stockhead’s recap of the buys and sells of ASX small cap shares by fund managers and other famous investors over the last fortnight.
Specifically, Stockhead tracks substantial shareholder movements, being shareholders holding 5 per cent or more of a company’s shares. These can be directors, individual investors, or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold, as well as any change in their holdings while they remain above 5 per cent.
The hot run of ASX IPOs continued in November and two recent listees saw shareholders that bought in at IPO, top up their holdings on market.
Neobank Judo (ASX:JDO) counts UniSuper as a substantial holder and in the first fortnight of its listing, it increased its holdings from 5.69% to 6.76%. It bought nearly 12 million more shares and forked out ~$26.73 million.
Another was biotech Tissue Repair (ASX:TRP) which dropped on debut but saw co-founder Tony Charara buy another $49,365 in the first four days of trading, taking his stake to over 8%.
GTI Resources (ASX:GTR), a company with interests in uranium and gold, saw Tolga Kumova top up his holdings by ~$509,000.