Markets: Fertoz gets an IPO kick

A small phosphate explorer has turned out to be one of the year’s strongest IPO performers.

Shares in Fertoz Ltd. surged 50 per cent in their first day of trading on the ASX, making the phosphate explorer one of the year’s better performing floats.

The rally gives Fertoz a market value of $13.5 million, after the firm issued 20 million shares at $0.20 a share to raise $4 million.

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