Private equity-backed Australian in vitro fertilisation company Monash IVF Group surged in its stock market debut.
Shares in Monash closed at A$1.9 compared with the IPO price of A$1.85m. The company, which is backed by private equity firm Ironbridge, raised A$316m ($297m). The private equity firm was expected to sell an 11 per cent interest in the IPO.
Monash, which claims to have completed the first IVF pregnancy in 1973, set the indicative price range at A$1.65 to A$1.95 per share and narrowed it to between A$1.80 and A$1.90 earlier this month.
Meanwhile, another private equity-backed Australian business, toilet paper and tissue maker Asaleo Care, is set to start trading on the Australian Securities Exchange tomorrow.
Asaleo has reportedly priced its IPO at A$1.65 per share, which is in the middle of its indicative range of A$1.55 to A$1.80 per share.
Private equity firm Pacific Equity Partners plans to fully exit it stake in the company via the IPO.
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