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Judo Bank surged 7% on ASX debut following an IPO raising $657 million.

ASX closed green; Imugene rose 4% on a new collaboration; Judo Bank surged 7% on debut.

The ASX200 closed 0.64% higher on Monday at 7370.80 points.

Imugene rose 4% after announcing a collaboration with Eureka Therapeutics.

Judo Bank surged 7% on its ASX debut raising $657 at IPO.

The Australian market closed 0.64% higher at 7370.80 to start the week and month as communication services stocks surged more than 2.4% to lead gains on the key index. Orocobre was the winning stock today, closing the session just under 6% higher.

The tech sector followed the broader market higher today, closing the session just under 1.8% higher as Wisetech Global gained 5.46% while Xero and Codan rallied more than 4% each.

Bitcoin is trading 0.99% lower over the last 24-hours at US$60,846.90 at 4:30pm AEDT. In recent days, Tesla CEO Elon Musk has tweeted about how the mounting US debt, government spending and proposed tax on unrealised capital gains, highlights the benefit of cryptocurrencies like Bitcoin.

Australian-based biotech cancer-focused immunotherapy company Imugene jumped 4% today after announcing a strategic collaboration with US-based Eureka Therapeutics. The collaboration will evaluate Eureka’s anti-CD19 ARTEMIS T-cell therapy in combination with Imugene’s CD19-expressing oncolytic virus onCARlytics in solid tumours to potentially address the lack of tumour-specific targets in solid tumours for T-cell therapies.

Making headlines, Judo Capital Holdings, Australia’s youngest bank, made a solid debut on the ASX today. The SME business bank debuted after one of the largest floats this year with an IPO at $2.10/share raising $657m and a market capitalisation of $2.3bn. Judo Bank’s Chief Executive and co-founder Joseph Healy said the company’s IPO will ‘mean more SMEs will have access to a relationship bank that listens, understands and boldly backs their business’. Shares in Judo Bank closed the debut session up 7.62% at $2.26/share.

And Tokyo-based gaming giant Sega has announced it is exploring a strategic alliance with Microsoft to develop big budget titles using Microsofts’ cloud gaming tech, Azure.

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