The ASX saw the best IPO debut of the year to date in manganese explorer Firebird Metals (ASX:FRB), which rose 198 per cent on debut.
This beat the previous 2021 record held by WA telco Pentanet (ASX:5GG), which finished its first day in late January 138 per cent higher.
Firebird is a spin-off from parent company Firefly Resources (ASX:FFR). The company, which is one of Tolga Kumova’s investments, once counted the Oakover manganese project as its own flagship project but made the shift into precious metals.
However, the other new listee today Tulla Resources (ASX:TUL) fell nearly 30 per cent.
The ASX 200 lost 0.73 per cent, finishing at 6,746 points while the ASX Emerging Companies Index gained 1 per cent – closing at 2,075 points.
Most sectors were in the red – led by healthcare which was down 1.71 per cent. Only Energy, Materials and consumer discretionary goods were in the green and while the latter was the best, it was only up 0.13 per cent.
Read more on Original Article – Stockhead.com.au
