It was not as strong as some had hoped, but initial investors can walk from this deal with quiet satisfaction. Tasmea Limited, a maintenance, engineering, and sustaining capital service provider, made an acceptably impressive debut on the Australian Securities Exchange (ASX) with its listing on April 29, 2024. The company’s initial public offering (IPO) was fast-tracked with an underwritten A$59 million deal, and its stock opened at $1.80.
Share Information:
- Listing Date: April 29, 2024
- Day Range (April 30, 2024): $1.680 – $1.700
- Previous Close: $1.700
- Average Volume: 1,431,412
- 52-week Range: $1.680 – $1.880
- Security Code: TEA
- ISIN: AU0000326191
- Share Description: Ordinary Fully Paid
- Shares on Issue: 217,755,150
Financial Highlights:
- P/E Ratio: Not available
- EPS: -$0.094
- Revenue: $161.86 million (AUD)
- Net Profit: -$19.86 million (AUD)
- Cash Flow: -$5.15
- Dividend Type: Interim
- Dividend Amount: $0.025
- Annual Yield: 0.00%
- Ex Date: May 14, 2024
- Record Date: May 15, 2024
- Pay Date: June 7, 2024
- Franking: 100%
Trading Performance:
On April 30, 2024, Tasmea Limited’s stock witnessed a day range of $1.680 to $1.700, with an average volume of 1,431,412 shares traded. The stock’s IPO price of $1.56 saw a significant surge on its debut, reflecting strong investor interest in the company.
Investor Interest:
Tasmea Limited’s successful listing and strong debut on the ASX reflect investor confidence in the company’s business model and growth prospects. With a focus on maintenance, engineering, and sustaining capital services, Tasmea Limited is well-positioned to capitalize on opportunities in its target market.
Future Outlook:
As Tasmea Limited continues to expand its operations and execute its growth strategy, investors can expect the company to deliver value and drive shareholder returns. The company’s solid financials and strong debut on the ASX underscore its potential for growth and success in the market.
Tasmea Limited’s impressive debut on the ASX is a testament to the company’s strong fundamentals and growth prospects. With a focus on maintenance, engineering, and sustaining capital services, Tasmea Limited is poised for success in its target market. Investors can look forward to the company’s continued growth and value creation in the future.
