Premium debut for share registrar

Perth-based Advanced Share Registry Ltd defied today's market downturn by debuting at a 25 per cent premium to its issue price.

The debut follows the company's oversubscribed $5 million initial public offering which issued 12.5 million shares at 40c apiece.

The company's first day of trade reached an intraday low of 45c before closing at 46c, giving it a market capitalisation of $18.5 million.

Established in May 1996 with a starting base of six clients, Advanced Share Registry business has grown to service more than 170 listed and unlisted companies throughout Australia and overseas, including Singapore and Malaysia.

Sitting on the board are managing director Kim Chong, non-executive directors Simon Cato, Alvin Tan and Alan Winduss and marketing director Michael Vaughan.