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QMS becomes latest outdoor company to float on stock market closing the day 10 per cent up

qms media share debutOutdoor company QMS Media Limited has seen its share price lift 10 per cent following its debut on the Australian Stock Exchange today.

The share price [ASX: QMS] closed today at $0.71 well up on its initial public offering price of $0.65 and giving the company a market valuation of close to $180m.

Barclay Nettlefold, QMS Media founder and managing director, said in a statement about the IPO: “Today is a major step in the growth and development of the QMS Media business. We have been greatly encouraged and energised by the strong support for our IPO, and we are pleased to welcome our new shareholders to the business.”

QMS Media is one of Australia’s major outdoor media companies, with a national portfolio of outdoor advertising assets, including landmark digital and static billboards.

Rivals Ooh Media and APN both saw their share prices fall today. Ooh closed down, losing 3.15 per cent to close at $2.46 while APN Outdoor was down 2.68 per cent to 73 cents.

Nic Christensen 

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