Fertility company Monash IVF has enjoyed a successful first day on the share market. Source: AAP
ONE of Australia’s largest fertility companies, Monash IVF, has grown by almost $13 million in value on its first day on the share market.
THE company’s public listing is the second from the expanding test-tube baby industry in the space of a year.
Monash IVF is one Australia’s top three fertility specialists, with most of its clinics in Victoria, South Australia and the Northern Territory. Its shares added 5.5 cents, or three per cent, to close at $1.905 in its first afternoon of trade, valuing the company at $440 million. The company sold 74 per cent of its shares to public investors to raise $316 million ahead of Thursday’s market debut, as it pushes ahead with plans to grow its market share in Australia and continue scientific investing. Most of the company’s earnings comes from fertility advice and services, while it also carries out genetic testing and provides ultrasounds. Another leading IVF provider, Virtus Health, made a $452 million debut on the share market 12 months ago, and its value has grown to $693 million.