It’s been a red hot market for initial public offerings (IPOs) in Australia in fact it has been the hottest in nearly a decade. Forager’s Steve Johnson Alex Shevelev survey the landscape and are particularly interested in a spate of new offerings in the non-bank lending space.
While Forager doesn’t often participate in IPOs, we do sift through the better quality businesses when the initial results inevitably disappoint.
One recent example is beauty company Adore Beauty (ABY), where the Forager Australian Shares Fund had the opportunity to purchase 25% below its IPO price.
