Kuskal disappoints in ASX debut, falling $36.4 million

Investors wiped more than $36.4 million off payments player Cuscal’s market value in the first four hours of trading on the ASX, with the year’s biggest offering to date disappointing after regulators ordered the company to improve risk controls and amid wider skepticism about the sector. .

When chief executive Craig Kennedy and chairman Elizabeth Proust rang the bell at ASX headquarters in Sydney at midday, accidentally tearing the bell off in the process, the shares matched the $2.50 offer price but fell 7.6 per cent by the close of the session. up to $2.31.

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