Singapore-based SportsHero is in for a good start during its debut in the Australian Securities Exchange with its share prices up in Wednesday’s trading.

SportsHero, which claims to be the world’s first social network dedicated to sports prediction, opened at a high of AU$0.06 versus its initial public offering price (IPO) price of at AU$0.05 per share.

Prior to its debut, the company said that it was able to raise AU$3.2 million ($2.44 million) through the issue of 64 million shares. SportsHero’s listing came via a reverse takeover of Nevada Iron Ltd.

Dinesh Bhatia, CEO of SportsHero, said that the fantasy sports app firm will be focusing on customer acquisition, introducing additional sports, and enhancing the features and user experience while sustaining strong engagement among users over the next 12 to 18 months.