Japara shares rally on debut

Shares in the largest IPO to hit the boards this year surge 21% on listing, after a bookbuild that was heavily oversubscribed.

Shares in Japara Healthcare (JHC), a residential aged care company, jumped 21% in early trade on Thursday, in the biggest Australian IPO to date this year.

The shares opened up at $2.41 and rose to $2.42, compared with an initial public offer price of $2.

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