Wisetech - the Major B2B SaaS Company has ASX Debut in 2016

Australia's WiseTech Global jumped on its debut on the Australian Securities Exchange, sending its market value cracking past the 1 billion Australian dollar ($750 million) mark. WiseTech, which provides technology to logistics companies raised approximately A$168 million, with over 50 million shares offered and suggesting an initial market value of around A$974 million. The solid debut came despite investors turning cautious about new floats. Philip Alexander noted that investors "have either been stung or they have seen other retail investors get stung." He told CNBC's "Squawk Box" that WiseTech is a clear standout because it's profitable, global and very large.