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The Nexion (ASX:NNG) share price has rocketed 90% since its IPO



The Nexion Group (ASX: NNG) share price has been on fire since hitting the ASX boards last week.

In afternoon trade the shares of the leading hybrid cloud, network, security and data centre company are up a massive 36% to 38 cents.

This means the Nexion share price is up 90% since its IPO last week.

The Nexion IPO

Nexion commenced trading on the Australian share market last Thursday after raising $8 million via the issue of 40 million shares at $0.20 per share.

This gave the company a market capitalisation of $25.4 million at the time of listing. This has now increased to just under $50 million following today’s gain.

Among its major shareholders are co-founder and CEO Paul Glass and fellow co-founder and COO Kevin Read. They…

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