Updates from the Australian share market for the week ending 22/12/2019

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Contents: IPOs, director trades, buybacks and short sales for the week.

Chart of the week

Retail spending turnover was unchanged (0.0%) in October, seasonally adjusted, coming in below expectations of a 0.3% increase. Falls for clothing, footwear and accessories, department stores and household goods were offset by increased spending in cafes, and food outlets. October results followed a small rise of 0.2% in September, and a rise of 0.4% in August, coming in the footsteps of successive rate cuts and tax cuts.

Source: Trading Economics

Initial public offerings (IPOs)

Companies that have recently applied to the ASX for listing. See the website for more details.

Cobre Limited is a mineral exploration company.

COSOL Limited is a business consultancy.

Kaiser Reef is a mineral exploration company.

Emerald Clinics Limited operates a network of specialist medical clinics and uses purpose built software and technology to gather clinical data from consenting patients. The anonymised data is commercialised as clinical evidence.

Companies that commenced trading this week.

Openpay (ASX: OPY) is a buy-now-pay-later provider.

OPY raised $50.0 million by the issue of 31,250,000 ordinary fully paid shares at an issue price of $1.60 per share. OPY will also issue 55,000 ordinary fully paid shares for nil consideration pursuant to the tax exempt plan.

The company listed on Monday opening at $1.65 and finished the week at $1.23.

Founders First Limited (ASX: FFL) is an investor in early stage craft brewery companies.

FFL raised $15,780,000 by the issue of 31,561,800 fully paid ordinary shares at an issue price of $0.50 per share.

The company listed on Tuesday opening at $0.51 and finished the week at $0.47.

Godolphin (ASX: GRL) is a mining exploration company.

GRL raised $7,480,500 by the issue of 37,402,500 shares at an issue price of $0.20 per share.

The company listed on Wednesday opening at $0.20 and finished the week at $0.19.

Limeade, Inc. (ASX: LME) is a provider of employee experience software solutions to enterprise customers.

LME raised $100 million by the issue of  27,060,208 CDIs and sale and transfer of 26,993,846 CDIs at an issue and sale price of $1.85 per CDI.

The company listed on Friday opening at $1.85 and finished the week at $1.85.


Insider trades

Insider trades are the purchase & sale of shares in a company by the company's directors. On-market and some off-market trades are counted. 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.

See the website for more details, such as the price and quantity of shares bought. For a full list of director trades by company over the last year, see the members section. 

Companies with at least three different directors buying recently.

Abacus Property Group (ASX: ABP) is a diversified Australian REIT with an investment portfolio concentrated in the office and self-storage sectors.
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 its shares on the open market and increases the Earnings Per Share (EPS) of the remaining shares, all else being equal. The company will usually buy shares back when they see them as good value. For the latest buyback announcements see the website.
Sunrice (ASX: SGLLV) is an Australian rice grower and supplier.

The company announced an on-market buyback of 10% of issue over 12 months of the Ordinary Class B shares.
Short positions
Shorting a stock is betting the price will decrease. See the full list of shorted stocks here. The member's section has Five Day and Year to Date changes in short sales. 

The below table shows the top twenty most shorted stocks on the ASX. Data is lagged 5 days.
Resolute Mining (ASX: RSG)

“The market, like the lord, helps those who help themselves. But unlike the lord, the market does not forgive those who know not what they do.” – Warren Buffett

There will be no newsletter for the next two weeks over the Christmas and New Year break. The website will still be updated as usual.

Please note the information contained in this newsletter does not constitute financial advice. Information relating to any securities mentioned is not a buy or sell recommendation. You should always conduct your own investigations and make up your own mind regarding any course of action you may wish to take. The information presented has been obtained from original and published sources believed to be reliable, but its accuracy cannot be guaranteed. The entire contents are copyright. Reproduction in whole or part is strictly forbidden without the approval of the author. This information is not financial advice and does not take into account your personal situation and we accept no responsibility for any claim, loss or damage as a result of the information in this newsletter or our website.

Sharp Investor owns ASX listed stocks: ACR, ALQ, CDX, CDXO, CGO, DHG, EVN, FBR, FID, FRI, GGG, GOR, IRI, MGX, MNY, OZL, PRO, QIN, SF1, SFL, SRG

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