Second IVF company to be floated sees share prices grow

An Australian fertility company has seen the price of its shares rise on the first day of its public listing on the stock market.

Shares in the Monash IVF Group rose 6.5 percent after opening at AU$1.96, meaning the country's second largest IVF company grew by almost AU$13 million in value in one day on its debut to the market.

The company is the second public listing from the Australian fertility sector in the last year to enter the stock market and follows the public listing of Virtus, the world's first listed fertility company.

Monash IVF boasts three of the top fertility specialists and hosts clinics in the Australian states of Victoria, South Australia and the Northern Territory. The company provides genetic testing and ultrasounds, as well fertility services, which make up the majority of its earnings.

Monash expanded to Malaysia in 2013 and has co-operative clinics in China. On Tuesday, chief executive, James Thiedeman, told Business Day: 'Our focus will remain on building our footprint in Malaysia and looking to expand our service across the broader Association of Southeast Asian Nations region'.

Other health related companies are following suit. Pacific Equity Partners listed hygiene products company Asaleo Care Ltd on Friday and has so far raised AU$656 million in shares. Reuters explains there is opportunity for investors to benefit from the growing demand of a health system in Australia that is heavily subsidised by the state.