Market debut IPO: SiteMinder (ASX:SDR).

SiteMinder Ltd has debuted on the Australian stock exchange today.

Following an IPO at $5.06/share raising $627 million valuing the company at $1.36bn, shares in SiteMinder soared 38.54% to close its debut session at $7.01/share.

SiteMinder Chief Executive Sankar Narayan thanked his staff and said ?today serves as yet another reminder that the world?s innovators and market leaders can emerge from Australia?. He also said the IPO was driven by both expected travel recovery and progression on the company?s own software roadmap.