Jeremy Bendeich of Avoca Investment Management says that their investment committee is skeptical of the wave of IPO's hitting the market. They typically list during euphoric market conditions when there's less diligence and discipline applied to analysing companies. Some of these IPO's are businesses that don't even exist and are only existing upon the flotation of the company. Assets are being wrapped up and packaged conditional upon getting the IPO away. Many of these are opportunistic and not something we're attracted to. Despite this skepticism, Avoca have been participating at the quality end of the IPO spectrum and he points out two companies that have recently passed their filters. Watch the Livewire exclusive: &feature=youtu.be
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