Business
This ASX share was the best IPO of 2020: fundie
Initial public offerings (IPOs) were all the rage in the second half of this year.
But when every dog and his master are getting on the bandwagon, you’re bound to see a wide variety in substance.
“There was very high variability in the quality of new listings this year,” Prime Value portfolio manager Richard Ivers told The Motley Fool.
Some companies were clearly taking advantage of “a short-term boost” to the bottom line from the COVID-19 pandemic, he said.
“With the market placing high valuation multiples on some of these sectors, they got the double benefit of high valuation multiples on cyclically high profits.
“Others were high quality businesses with a solid long term outlook.”
So what was the best out of a…
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