Logistics software firm WiseTech Global made a strong debut on the Australian bourse, outperforming the broader market.
WiseTech shares - which were sold at $3.35 each via an initial public offer - closed 54 cents higher, or 16 per cent, at $3.89, valuing the group at $1.13 billion.
Around 3.37 million shares changed hands on the Australian Securities Exchange.
The All Ordinaries index closed 4.8 points lower, or 0.1 per cent, at 5,013.2 points.
WiseTech is the latest in a series of home-grown technology firms that have expanded overseas.
The group provides software solutions to the global logistics services industry, and has 6000 customers across more than 100 countries including Australia, New Zealand, China and the US.
WiseTech raised $167.6 million in the IPO through a combination of a selldown by existing shareholders and an issue of new shares. At its offer price it had an initial market value of $974 million.
Founder and chief executive Richard White will retain around 50 per cent stake in the company.
WiseTech has forecast revenue of $102 million and a $13 million net profit for the 2016 financial year. For FY 2017, it expects profit at $26.1 million, on revenue of $135 million.
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