Uniti sends strong initial signal at open.

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Fixed wireless broadband provider Uniti Wireless (UWL) created some excitement as it joined the ASX at 11am this morning, but it remains to be seen if initial enthusiasm will carry through to the afternoon and into the future.

Opening at 33 cents, 32% above the IPOs ask of 25 cents, initial sentiment looked good, but prices quickly began to decline and currently sit at just 23 cents with almost 2 million in shares having changed hands.

Uniti propose to use funds from its IPO to acquire the entire issued capital of FuzeNet Pty Ltd, a Retail Service Provider dealing in non-NBN fibre.

A place holder has been added the the 2019 Scorecard, data should begin to flow through on that shortly.

Security Matters makes successful entrance.

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It’s not a great time to be entering the Australian Stock Market given the current conditions, but despite a number of delays Security Matters (SMX) has made a success start to trade this morning.

There are no big gains to be seen just yet, but SMX has at least managed to match its initial ask as activity began around the 20 cent mark.

With plans to use the funds for business development, sales, and product development, any gains to be had will be realised off the back of those efforts and in a more friendly market - You can keep tabs via our Scorecard.

ArchTIS off to relaxed start.

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It’s been a little while since we’ve seen a tech based IPO, but Cyber Security provider ArchTIS (AR9) quietly joined the ASX today amid all the excitement of the Althea launch.

Far from a startup, ArchTIS has already been in operation for over a decade and has racked up approx 13M in revenue over the past 6 years alone.

Investors needed only put up the obligatory 20 cents per share during the float and the market seemed comfortable with this as trade opened at around the same figure.

The real movement is yet to come with over 40% of the funds raised from IPO slated for further product development, sales, and marketing - with 2 notable launches scheduled for FY19/20.

Keep track on the 2018 Scorecard, we liked the look of this early on and we’ll be watching closely.