PHOTO: RateMyAgent
Last week, RateMyAgent made its debut on the Australian Securities Exchange but fell short of its initial listing.
RateMyAgent had valued the business at $92 million, with shares going for 25 cents each to raise $12 million.
However, at close of trade on the first day, the business was worth just $75.4 million, but share prices have improved marginally from 20 cents a share to a high of 21.5 cents.
Mark Armstrong, CEO of RateMyAgent, said that the initial opening had adjusted a little bit and the company had a very positive outlook.
“The IPO was to allow us to focus on our global expansion and this launch debut has allowed us to do that,” the CEO said.
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