Harmoney debut out of tune

Thu, 19 Nov 2020

Harmoney Corp shares dropped more than 8 percent as it sunk, rather than floated, in its debut on the Australian and New Zealand stock exchanges this afternoon.The slide will have disappointed investors who may have bought into the initial public offering with fresh memories of other successful fintech listings, such as Laybuy's 45.4 percent gain on debut earlier this year.The Kiwi company raised A$92.5 million dollars, of which A$70 million was new capital, in its IPO at a price of A$3.50 per share — the stock's secondary NZX lis...

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