Anticlimactic first day on the ASX for PEXA

Riches were not made or lost on PEXA's first day of trading on the ASX on 1 July 2021.

PEXA's share price ended its first day at $17.15 which is 2 cents up from its prospectus price of $17.13.

The company is now residing on the ASX at $3 billion market capitalisation. Annual revenue this financial year could be somewhere between $200 million and $280 million. PEXA estimates that the size of its market in Australia is currently $280m.

$3 billion market capitalisation is more than 10 times its potential Australian revenue. 

The riches that have been made were made up until its ASX listing. Perhaps for this reason, the share price showed more weakness than strength (from $17.13) on its first day of trading. Prices were in the range of $16.40 - $17.39.

Its revenue 'super' growth potential is overseas. International expansion is part of the company's stated strategy. Its success internationally has the best chance of seeing financial wins for anyone considering buying shares today.

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