Fintech Tyro just joined the unicorn club – and its shares are soaring

SME payments fintech Tyro listed on ASX today after raising $287.2 million – $34 million more than planned in a “multiple times” oversubscribed IPO – at $2.75 a share, entering the unicorn club with a market cap of more than $1.37 billion.

Tyro shares (ASXTYR) began trading at noon today (AEDT), jumping as high as $3.45 in the opening 15 minutes as more than one million shares changed hands. The share price was up 20% in the first hour of trade to as high as $3.53. 

Normal trading in Tyro begins next Friday, December 13.

The float is the biggest of 2019, bucking the recent failure of Latitude, which pulled its IPO.

The Sydney eftpos machine provider and business lender, founded in 2003, is led by former Wotiff and Tatts boss Robbie Cooke, with former Telstra CEO David Thodey as chair.

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