Rubicon Water (ASX:RWL) has debuted on the Australian stock exchange today.
Following an IPO at $1/share, Rubicon Water raised $42.6 million. Shares of Rubicon Water rose 57% to $1.57/share.
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.