Reckon soars in ASX debut

Accounting software company Reckon debuted on the Australian Stock Exchange (ASX) today, peaking at over double its issue price. The share prices topped out at $2.90 during trading with the company set to follow in the steps of its competitor MYOB, which listed on the ASX just over a week ago and doubled its share price in the opening day's trading.

The initial public offering (IPO) will raise $59 million, with 56.3 million shares offered at a retail cap of $1.05. The company, which sells Intuit's Quicken accounting products into Australia and the surrounding region, was optimistic before the listing that the shares would trade above the offering price, mainly due to oversubscription. The final trading price today was $2.81.

Reckon customers, including registered users of current Quicken software and registered users of Quicken.com.au's online stock brokering service were given priority in the float. The company, in its prospectus, expected market capitalisation following the float to reach $110 million.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

PC World Staff

PC World
Show Comments

Father’s Day Gift Guide

Brand Post

Bitdefender 2019

Bitdefender solutions stop attacks before they even begin! Get cybersecurity that 500 MILLION users already have and trust.

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?