iSelect, an Australian online insurance comparison company, made the opposite of a splash when it listed on the Australian Securities Exchange recently. It started at A$1.85 per share but fell and closed at A$1.56 per share, losing 15.7 percent of its market capitalisation of A$479.3 million in the process.
Reasons given for iSelect’s poor performance were that its technology was “not groundbreaking” and it already has strong competition in its field with even more competition possible.
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Tags: Australia, Australian Securities Exchange, business, iSelect
