Dalrymple (ASX:DBI) share price tanks 15% at IPO debut today

The Dalrymple Bay Infrastructure Limited (ASX: DBI) share price has taken a beating on the first day of its ASX listing, losing more than 15% soon after the shares floated.

In today’s initial public offer (IPO), Dalrymple has raised $656 million by selling 255 million shares at a price of $2.57 per share.

The Dalrymple share price was trading at $2.16 at close of trade.

More about the Dalrymple IPO

Dalrymple owns the Dalrymple Bay Coal Terminal, which handles about one-third of Queensland’s coal exports, and 15% of global export metallurgical coal volumes in 2019.

The port sits on the world’s largest coal export terminal, Port of Hay Point, which handles coal from the Bowen Basin mines. The Bowen Basin mines are the source…