Silk Logistics shares jump 25pc on ASX debut
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Shares in Silk Logistics roared higher early on Friday afternoon, after raising $70 million in an IPO, valuing the “port-to-door” tech business at $181.2 million.
The Melbourne-based company was priced at $2 a share and immediately popped 20 per cent once trading began to $2.41 before closing the Friday session at $2.50
Founders of Silk Logistics Brendan Boyd (left) and John Sood (right) with chairman Terry Sinclair (centre).
Wayne Taylor
“It’s all a bit surreal,” said chief executive Brendan Boyd.
“But this is a time when people really want visibility over their supply chains, and with our asset-light model we can not only give them oversight, we can give them insight into how they can make better decisions.”
Silk Logistics (ASX:SLH) share price rockets 25% after IPO fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.