In its first day of trading the PDF software firm shares dropped from AU$1.65 to AU$1.52. The firm will trade under the ticker ‘NTO’.
Nitro Software (ASX:NTO), PDF and esignature software firm held its initial public offering (IPO), raising AU$110.2 million. Shares had a price of AU$1.72, opening at AU$1.65 and closing at AU$1.52 in its first day of trading.
As quoted in the press release:
Nitro Chairman, Kurt Johnson said “The completion of the IPO is an important milestone for Nitro, supporting a growth strategy that leverages the continued success of our PDF productivity and eSignature solutions. As we continue to expand our cloud-based platform, we are excited to benefit from global trends driving the adoption of the document productivity offerings like those core to our business. We are very pleased with the outcome of the IPO and are delighted to welcome new investors to join us on the next exciting phase of Nitro's successful journey."
Sam Chandler, Nitro's Co-Founder and CEO said, “Having founded the Nitro business in Melbourne a decade and a half ago, I am thrilled that we are listing Nitro in the Australian market today.