CAPITAL MARKETS

Monarch ends first day on high

PERTH-based Monarch Resources has ended its first day of trading on the Australian Stock Exchange at an 18% premium to its issue price after earlier raising $2.75 million through an initial public offering.

Greg Tubby

The 20c shares opened at 21.5c but slid back to 21c briefly before climbing to 22c in the first 10 minutes of trading. After hitting an intra-day high of 23.5c the stock closed at 23c. Monarch said its...

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