Big Technologies PLC (AIM:BIG), designer of the tracking devices for vulnerable people and offenders, leapt to a premium on its first day of dealings on AIM.
Led by Confused.com founder Sara Murray, the company raised £200mln in its initial public offer at a price of 200p per share, giving it an initial market cap of £577mln.
On Wednesday morning the shares flew up to 299p in their first hour of dealing.
"This is a significant step in our growth journey and a special moment for all our staff, customers and stakeholders, to whom I am grateful for their hard work, loyalty and ongoing support," said Murray.
"We are proud to be providing another strong example of the UK's continued inventiveness in incubating global technology success stories and excited to begin our life as a public company."
The Buddi personal tracking system is based around a wristband worn by vulnerable people and children, which features automatic fall detection, a push button alarm and a location finder.
Using similar technology, the company also makes its services available to criminal justice organisations around the world, via ankle ‘tags’.
In the UK, the company is contracted to around 80% of councils and its recent revenue growth has reportedly come from emerging markets, via contracts for the offender tagging product.
Through an SaaS (software as a service) model its subscription-based revenues are tied-in via long term contracts of up to 12 years.