Here’s how Splitit’s red-hot listing compares to the other best IPOs of recent years
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Fintech startup Splitit (ASX:SPT) has turned plenty of heads in its first two weeks as a listed company.
The Israel-based company launched its initial public offering (IPO) on January 29 at 20 cents a pop and immediately rocketed to a high of 99 cents.
It’s cooled off a bit this week, and closed Friday’s session at 83 cents — still an early gain of more than 400%.
Splitit is the latest competitor in the buy-now, pay-later market with companies such as Afterpay and ZipCo.
Its technology acts as an extra processing layer on routine credit card transactions, automatically taking the card details of the payer and breaking the payment into installments.
In view of the company’s red-hot early performance, we took a look at how it compares to the some of the best IPOs in recent years.
Of course, if the listing goes really well, the company’s market capitalisation will increase out of the realm of small caps and into the world of mid-cap listed stocks.
A good example of that is tech company Appen, which listed at 50 cents in 2015 and is now worth more than $17 a share (that’s a gain of over 3,000 per cent).
But as the below table shows, that was a bit of an outlier, and Splitit’s early performance puts it up there with the best IPOs of recent years on the ASX: