Shares in labour recruitment business Interstaff Recruitment (ITS) rose on their debut on the Australian Stock Exchange, rising by 10% from the offer price.
More than 240,000 shares changed hands during the day's trade.
The stock ranged from $1. 09 – $1.105, before closing at $1.10.
The company's initial public offering raised $5 million at $1 per share.
Interstaff was created with the objective of forming an integrated migration advisory agency and international labour recruitment company to capitalise on the expected continued demand for skilled labour in Australia.
Its business divisions include visa and migration advisory services and skilled overseas work placement services.
In addition, it is developing its international labour on-hire division and proposes in the future to provide labour management and other services.
Upon ASX listing and after acquisition of 3 businesses it has entered into agreement with, the West Australian based company's market capitalisation will be about $14.2 million.
