Maas Group (ASX:MGH) share price jumps 30% on IPO debut

Construction materials company, Maas Group Holdings Limited (ASX: MGH), made its ASX debut today. The company’s shares floated through an initial public offering (IPO) at a price of $2, raising $145.6 million.

In roughly an hour since trading began, the Maas Group share price has risen by 30% to $2.60 (at the time of writing).

The company also provided a business update prior to the opening bell, saying it’s performing in line with internal budget forecasts, and is continuing to build its forward order book.

What did Maas Group announce today?

Maas Group says the business remains on track with earnings to be second-half weighted in line with the growth in construction materials, civil and hire and property segments.

The company…