Clarity Pharmaceuticals (ASX:CU6) has debuted on the Australian stock exchange today.
Following its debut, shares of Clarity Pharmaceuticals rose 7.15% to $1.5/share following an IPO at $1.40/share raising $92 million.
An increase in listing price is a vote of confidence from the market about the future prospects of the company.
A decrease in the listing price can be interpreted in a number of ways, including whether the IPO was accurately priced.