Following a successful initial public offering (IPO) for its ordinary shares, Judo Bank made its ASX debut on Monday under the ticker code JDO.
The total IPO size was $657 million, boosted by strong interest from a large number of institutional and retail investors. The offer price for the IPO was $2.10 per share, with an implied equity valuation of $2.3 billion.
"Judo Bank’s IPO will mean more SMEs will have access to a relationship bank that listens, understands and boldly backs their business," said Judo Bank’s CEO and co-founder, Joseph Healy.
"I would like to welcome our new shareholders to the register. We have received wonderful support and interest throughout the IPO process from a wide range of investors, some of whom have been with us since the very beginning,” Mr Healy noted.
Judo Bank is the first fully licensed Australian bank to IPO in 25 years, and just three years after the challenger bank was granted its full banking licence in April 2019.
"This is an important milestone for our business as we continue to deliver against our purpose, and build a truly world class SME business bank,” Mr Healy said.
Around midday on Tuesday, Judo was fetching $2.260 per share.
