Shares in the Link Group, the biggest IPO of the year, take off

Dylan Rives/Getty Images For SOBEWFF

Shares in the Link Group, the biggest float in Australia this year, jumped more than 11% on its first day of trading.

The shares hit $7.10 on opening, 11.4% more than the $6.37 IPO price.

The company, a manger for self-managed superannuation funds and technology services for the super industry, raised $946.5 million at $6.37 a share which valued the business at $2.3 billion.

Link last year paid $170 million for the superannuation platform Superpartners which had previously been owned by five super funds.

The company, with 2300 clients, is forecasting revenue of $750 million this financial year with net profit of $63.9 million before significant items.

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