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.

Watch List Update: ReadyTech (RDY) added.

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ReadyTech, claimed as “a leading software as a service (SaaS) provider of mission critical people management systems” has just been added to the watch list, expected go live is April 17 at this stage.

A quick look at the prospectus shows the company has been around for 20yrs and is forecasting “$35.1 million in revenues and $14.6 million in EBITDA on a pro forma basis” for CY19F.

Asking $1.51 per share, there’s obviously some confidence in this being a strong proposition, but as always do your own research. You can take a look at the prospectus here.

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.

Tymlez comes up almost 30% short at launch.

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Blockchain platform provider Tymlez Group Limited (ASX:TYM) has made a fairly weak start to trade this morning, going live around 11am. Dropping 6 cents from the ask, prices slid a little further to 15.5c, at the time of this post, as securities continued to change hands.

Established in the Netherlands in 2016, Tymlez is looking to expand its sales and marketing efforts in Europe, as well as in the Asia‑Pacific and US regions by recruiting additional business development and marketing personnel and “aggressively pursuing” further marketing initiatives in these markets.

The business also intends to utilise the IPO funds to undertake further research and development activities on blockchain technology and further product development on the Tymlez Platform.

Will this one keep sliding or are you expecting it to bounce back?