Firebird Metals (ASX:FRB) share price heats up on IPO

Firebird Metals Ltd (ASX: FRB) shares listed on the ASX last Thursday at an initial public offering (IPO) offer price of 20 cents per share and indicative market capitalisation of $10 million. The Firebird share price more than doubled to open at 46 cents, ran as high as 64.5 cents before closing at 59.5 cents on Thursday.

Here’s why investors are hyped about the Firebird share price. 

Firebird Metals overview 

Firebird was initially an unlisted public company, incorporated on 4 January 2016 as Forrestania Pty Ltd. Its parent company is the listed explorer, Firefly Resources Ltd (ASX: FFR). On 18 December 2020, Firefly announced it would demerge its Oakover manganese project. The spin-out resulted in Firebird as a standalone…