Market debut IPO: Tissue Repair Ltd (ASX: TRP)
Tissue Repair Ltd (ASX: TRP) has debuted on the Australian stock exchange today.
Following an IPO at $1.15/share raising $22 million, giving the company a market capitalisation of $70 million, shares in Tissue Repair fell 38.48% to $0.70/share.
Tissue Repair’s Chairman Jack Lowenstein said ‘Completing our IPO and listing on the ASX now gives us the opportunity to pursue a drug label in a chronic wound indication which has significant unmet needs. Therapeutic claims in a chronic wound, if achieved by our Phase III studies, provide a platform for growth and revenue generation with a product that is different to others currently available’.
An increase in listing price is a vote of confidence from the market about the future prospects of the company.
A decrease in the listing price can be interpreted in a number of ways, including whether the IPO was accurately priced.
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