intelliHR Holdings Limited (ASX:IHR) has made a successful debut as an ASX-listed company with shares up 56% a day after trading began.
The cloud-based people management and intuitive data analytics software company opened at $0.34 on Tuesday and at midday today had climbed to $0.53.
intelliHR had almost 58 million shares on issue at the quotation date with another 46 million shares in escrow for periods of 12 and 24 months.
Another 20.7 million shares are subject to voluntary escrow for six months.
The company raised $4.5 million in its oversubscribed IPO at an offer price of $0.30 per share after raising $4 million in a pre-IPO offering.
Automated HR processes
intelliHR launched in 2013 and combines the automation of HR processes with data analytics.
It believes that Software-as-a-Service (SaaS)-based systems will become industry standard in HR management in the near future.