OzForex enjoys strong market debut

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Shares in financial group OzForex have soared by 30 per cent after listing on the Australian share market.

The company began in 1998 as an Australian foreign exchange information website and has grown to be an international company that enables consumers and businesses to make payments in a foreign currency.

Its shares began trading on the market at 1200 AEDT Friday, and quickly rose from their listing price of $2.00.

At 1327 AEDT they were worth $2.60, up 30 per cent.

OzForex raised $439 million from its public listing, which will be used to pay dividends to the company’s founding shareholders.

After its strong debut, the company’s market value currently stands at $624 million.