iSelect IPO tumbles in early trade

Newly listed iSelect (ISU) has been pummelled in early trade as investors react negatively to the Australian Stock Exchange’s second major float in two weeks.

Newly listed iSelect (ISU) has been pummelled in early trade as investors react negatively to the Australian Stock Exchange’s second major float in two weeks.

The insurance comparison group has dived 10.3% to $1.66 as of 1334 AEST from its initial offer price of $1.85.

The decline coincides with the wider market’s fall of just less than 1.5% in morning trade.

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