Positive start for Primero

ENGINEERING contractor Primero Group has made a positive debut on the ASX today.

Positive start for Primero Positive start for Primero Positive start for Primero Positive start for Primero Positive start for Primero

Primero managing director Cameron Henry, CFO Ryan Mcfarlane and executive director Brett Grosvenor

The company listed at midday AEST and closed at A41c, a slight premium to the 40c initial public offering price, giving it a market value of just under $60 million.

Shares traded as high as 45c earlier in the day on turnover of around 3.4 million shares.

The IPO, lead managed by Canaccord Genuity, raised $20 million, with an additional $5 million raised through a share sale.

The founders of the company, including managing director Cameron Henry, retain around 56% of the business.

"Close to six months of work has gone into preparing the business for listing on the ASX and there is a great deal of satisfaction across the team in seeing the stock trade for the first time today," Henry said.
 
"The listing marks one of the mo...

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