Market debut IPO: TEK-Ocean Group (T3K)

TEK-Ocean Group (ASX:T3K) has debuted on the Australian stock exchange today.

Following an IPO at $0.5/share, TEK-Ocean Group raised $6.6 million. Shares of TEK-Ocean Group fell 3% to $0.49/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.