The Team at PrimaryMarkets would like to congratulate Tyro Payments Limited (ASX:TYR) on a hugely successful ASX listing on Friday 6 December 2019.The stock had an IPO issue price of A$2.75 and closed out the day at A$3.38 per share (up 23%). Tyro Payments, the eftpos machine provider and business lender lodged its prospectus with the Australian Securities and Investments Commission on the 18th November 2019 and raised A$287 million via its initial public offering.
The Company listed on the ASX with a market capitalisation of A$1.37 billion and closed the day at A$1.68 billion.
Since 2016, PrimaryMarkets has operated a secondary trading platform for Tyro shareholders which successfully traded over A$35M worth of shares virtually all using our escrow services and online AML/KYC and Buyer Investor Status processes.
Tyro commenced trading on the PrimaryMarkets Platform with a starting price at A$1.07 per share. Over the ensuing few years, price discovery through the PrimaryMarkets Platform saw consistent growth in the value of the shares. Tyro shares reached their peak at A$2.00 per share in September 2019 just prior to the announcement of the proposed IPO, delivering up to a 275% increase on the ASX closing price on 6th December 2019.
There are no escrow restrictions placed on the buyers of Tyro secondary sales as transacted via the PrimaryMarkets Platform.
We congratulate all our PrimaryMarkets Members who purchased Tyro shares via the PrimaryMarkets Platform and wish them and Tyro all the best for the future.