Investors lucky enough to get stock in Friday’s flurry of IPOs have plenty to smile about with all four of the debutantes trading above their float price.
The float of investigative analytics and intelligence software provider Nuix was highly anticipated and the biggest IPO of the year didn’t disappoint.
Having raised $953 million through the sale of shares at $5.31 each, the stock popped 60 per cent to $8.50 on the open. It traded as high as $9 and was recently fetching $7.76.
Maas Group founder Wes Maas pocketed a tidy $58.9 million paper profit after shares in the construction materials, equipment and services provider jumped 20 per cent to $2.40 a share when they started trading.
The company raised $145.6 million by selling shares at $2 each. The stock was last trading at $2.70 – its high for the session.
UK-based tele-health provider Doctor Care Anywhere also delivered for its backers.
CDIs in the UK-based tele-health company were sold at 80¢ each, raising $102 million. The stock opened at $1.10 a share, a 37.5 per cent premium to its IPO price. It recently traded at 96¢.
Junior explorer Prospech is also in the green. The company, which explores for gold and silver in Slovakia, raised $5 million by selling shares at 20¢.
The stock opened at a 17.5 per cent premium, or 23.5¢ a share. It was recently trading at 22.5¢.
Street Talk editors Anthony Macdonald and Tim Boyd took a deep dive look into the furry of IPOs in last weekend’s Smart Investor.
The pair said it was the most frantic season for IPOs that fund managers can remember.
