MYOB's chief executive Tim Reed pocketed a paper profit of more than $1.5 million as the business software giant returned to the share market in the biggest float of 2015.
The accounting and payroll solutions company hit the boards at noon AEST, with shares debuting at $3.91.
This marked a 7.4 per cent premium on the $3.65 investors paid during the initial public offering.
After a six-year absence from the share market, MYOB finished at $3.89 on its first day back.
This meant chief executive Tim Reed, who owns 6.4 million shares or 1.1 per cent of the company, was worth an extra $1.54 million by late Monday afternoon, with MYOB's share price closing 6.6 per cent above the IPO level.
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MYOB had hoped to raise $833 million to help it pay off debt but the share price jump means the float has raised $888 million.
The developer of cloud-based business software solutions is the biggest company to debut on the Australian Securities Exchange since Medibank Private was privatised in late 2014.
OptionsXpress market analyst Ben Le Brun said MYOB's successful float had helped buoy the broader market.
"It's been a successful IPO. It's been the biggest one for the year and that certainly added to sentiment today," he said.
"There was a lot of commentary that it was looking fairly valued but it's had a strong debut and it certainly won't do the prospects of future IPOs any harm."
US private equity group Bain Capital still holds 57 per cent of MYOB's shares and is its biggest investor.
MYOB has been transformed from a desktop to a cloud-based software company under the ownership of several owners, including another private equity firm Archer Capital which took it over in early 2009.
