Brazil’s PagSeguro Digital’s stock soars 34% above the IPO price to pace NYSE gainers
The newly minted shares of Brazil-based financial technology company PagSeguro Ditigal Ltd. soared 34% above their initial public offering price in afternoon trade Wednesday, enough to make them the biggest percentage gainer listed on New York Stock Exchange. The stock’s first trade was at $28.20 at 10:53 a.m. ET, which was 31% above the IPO price of $21.50. The stock has traded within a range of $28.00 to $29.25 since the open. The company raised $1.09 billion by offering 50.9 million shares to the public, while selling shareholder Universo Online S.A. sold 54.5 million shares to raise $1.17 billion. The company has gone public at a time that the Renaissance IPO ETF has gained 5.1% over the past three months, while the S&P 500 has run up 10.5%.
Source : MTV
