News: KED Macquarie-backed Keypath Education IPO tumbles in Australian debut

June 2 (Reuters) - Keypath Education International Inc (KED) slumped 5% in its market listing on the Australian Stock Exchange on Wednesday, the latest Macquarie-backed (MQG) initial public offering (IPO) to underperform shortly after debut.

Shares of the U.S.-based online programme maker were down at A$3.52, as of 0118 GMT, lower than its IPO price of A$3.71, while the broader market (xjo) jumped 0.4%.

Public listing of intelligence software provider Nuix Ltd (NXL) was arranged by Macquarie Group in December, but its shares have more than halved in value this year to trade much below its IPO price of A$5.31.

Investors dumped Nuix's stock after the company downgraded its earnings forecast twice this year and as a media probe alleged accounting issues at the firm.

Keypath said on Wednesday it had raised A$212.1 million ($164.72 million) by issuing 57.2 million chess depositary interests (CDIs), where each CDI stood for one share of common stock.

Funds raised would be used for expansion, Keypath said as the Illinois-based company eyed opportunities within the healthcare sector and in Southeast Asia.

($1 = 1.2877 Australian dollars)