Shares in Waterford based waste-management firm Kollect plunged at the start but recovered fully on their maiden day of trade in Stockholm.
The three men who founded Kollect in Waterford four years ago John O'Connor, John Hegarty and Robbie Skuse,
rang the market bell on Nasdaq Stockholm's trading floor as the group became the second Irish firm to list there.
The Irish Independent reports that initial public offering generated €1.76m in new capital that Kollect intends to plough into UK expansion from a new Manchester base.
Mr O'Connor called the IPO "a great milestone" as the firm pursues its vision of "making it simple for customers to have waste collected and recycled globally".
The shares lost 25pc of their value within the first 22 minutes of trade, reflecting Kollect's failure to reach its IPO subscription targets.
But they recovered gradually and, in the final minutes of trade, surged back to their starting point of 14 Swedish krona (€1.34) per share. This left the firm with a market cap of 70m krona (€6.7m).
Kollect is the last of 40 European firms this year to list on the Nasdaq First North Growth Market, a platform for early-stage tech businesses seeking an alternative to growing via private equity or venture capital.
