Veda Group has become the best-performing public float of the...

Veda Group has become the best-performing public float of the year to date after the credit reporting and data services company's shares soared 40 per cent on its first day of trade.

Veda, which returned to the Australian Securities Exchange on Thursday after a six-year hiatus, closed at $1.75, or 50¢ above its initial public offering price of $1.25.

The company leapt ahead of other stellar IPO performers this year, including insurance broking group Steadfast and foreign exchange provider OzForex, which posted 24 per cent and 28 per cent rises to their respective share prices on their first day of trading.

Veda chief executive Nerida Caesar said there were ''lots of factors that come into play'' when determining the success of IPOs.


Read more: http://www.theage.com.au/business/markets/veda-group-floats-to-the-top-on-asx-listing-20131205-2yttv.html#ixzz2mey2dsHs