It’s been a slow start to the month in IPO land with a number of missed dates and no shows, but Tribeca Global Natural Resources (TGF) has begun trading on the ASX today as scheduled.
Given the company’s goals, there has been solid interest in this listing, but current market factors implied there may be a negative impact on early trade. Fortunately that was not the case with the initial prices kicking off at $2.51 vs the $2.50 ask.
Investors will likely sit tight for now as the Company’s objectives are to generate a compound annual return in excess of 15% (after all fees and expenses), with long term being more than 5 years.
Keep track on the Scorecard and fingers crossed those objectives are realised.