RLT gains as PKS strains.

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Mixed fortunes for our debuting companies today as PKS Holdings and Reneger Limited shares began trading around midday.

PKS has struggled to gain momentum and peaked at its asking price of 20 cents before hovering around 18-19 cents all afternoon. Sentiment is still quite positive in the twitterverse though with many stocking up for a longer play.

With the bigger of the two asks, at 80 cents, Renergen delivered the goods immediately and maintained prices in afternoon trade. Peaking at just over a $1 per share, things soon settled to back into the 90 cent bracket for a solid 20%-25% gain.

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Powerwrap fails to woo the market at open.

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Wealth Management platform provider Powerwrap Limited has had somewhat undesirable first few hours of trade today, going live around 11am. Asking a not unreasonable 35 cents per share, prices are yet to break this barrier, currently sitting at 31 cents, down 11%.

Some of the buzz around the IPO implied it was fairly cheap by comparison, but investors aren’t biting just yet - though we imagine plenty of punters will be sitting on this one for a little while to see if it gains some momentum.

You can check how it’s doing on the 2019 Scorecard.

UPDATE: It looks like it only needed a days trade to change direction with share prices now sitting 20% above the float price, not bad at all.

Life360 bringing gains for the whole family - up almost 15%

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It looks like investors have jumped at the opportunity to buy in to US software company Life360 today as trading kicked off at noon.

Life360 (ASX:360), who provide a “location-based services application for consumers globally to track their contacts” and an “integrated driver-protect service that contacts emergency services” were established in 2018 and have grown rapidly since. It’s an interesting platform and it’s not hard to see why it’s popular in the US in particular.

The $4.79 ask during the IPO certainly raised some eyebrows, but the market has responded well with prices peaking at $5.49 so far today.

Funds from the IPO will simply go back into increasing the companies user base and general growth initiatives, fingers crossed they can continue on the current trajectory.

Next Science comes up with formula for success!

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Biofilm technology provider Next Science has made quite the entrance to the ASX today as shares began moving around 11am.

We were confident this would be a good launch and investors have reaped the rewards with initial prices hitting $1.43 vs the $1 ask.

According to the chairman, “The proceeds from the Offer will be used to expand Next Science’s product development activities, for administration costs and working capital, and to pay for the costs of the Offer.” and given wha the business is working on, we think the future is very bright for this one.

The Scorecard has been updated accordingly.

ReadyTech posts immediate 15%+ gains at open.

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We were ready, the market was ready and ReadyTech Holdings (RDY) was definitely ready as shares began trade at 12pm today.

A provider of People Management software, ReadyTech already had solid financials prior to the IPO, with funds received set to accelerate growth across the board.

The market seems to have confidence in the proposal with prices peaking at $1.80 per share, almost 20% above the ask.

Keep tabs on future progress on the 2019 Scoreboard.