Hi,
There should be no problems doing this.
It depends totally on the media which is used to connect the ISP to your firewall.
If you have some xDSL type connection you would traditionally use a modem/router in bridged mode and have the public IP address directly on the ASA either statictly configured or with DHCP depending how your connection with ISP is.
I would see having the public IP address directly on the ASA the preferred setup. If the public IP address was on the router you would have to do NAT and access control on 2 devices and it would needlesly complicated the setup.
- Jouni