SYDNEY, JULY 15
Shares in mobile phone services provider amaysim Australia Ltd debuted at a slight discount to their issue price on Wednesday, underscoring the lack of appetite for IPOs as China’s recent stock market turmoil stirred jitters in the local bourse.
Shares in amaysim, which sells access to Singapore Telecommunications’s Optus network without locking customers into contracts, traded at A$1.78, below its issue price of A$1.80, while the broader market was up 0.8 percent.
The company had raised A$207 million ($153.74 million) through its IPO, which coincided with market volatility as China’s stock exchanges experience a seismic correction and Greece battled to reach a debt bailout agreement.
Australia has also witnessed a slowdown in IPOs this year after a record 2014, as a slump in commodities prices and lacklustre performance by some listings cooled investor enthusiasm…
To read more on this article:
REFERENCE ARTICLE: http://www.reuters.com/article/2015/07/15/amaysim-ipo-idUSS9N0Z801A20150715