Shares in marketing services company, Commquest (CQU) soared up to $1.28 on its debut on Thursday, after a successful float which raised more than $30 million at $1.00 per share.
Shares eased back to close the day at $1.19.
More than 5 million shares had changed hands.
The Melbourne-based company, Commquest is comprised of seven marketing services companies and intends to grow with future acquisitions.
"Initially, Commquest has brought together a group of companies which offer specialist, accountable marketing services such as direct marketing, digital and interactive communications, and advertising services that provide client with both qualitative and measurable insight into the results of their advertising and marketing activities," chairman John Hall said in the prospectus.
Marketing services provided by Commquest include strategic marketing, direct marketing, direct sales, public relations and public affairs, digital and interactive marketing, mobile marketing, technology services, event management, advertising, and media planning.
