Markets
Reddit jumps up to 67% after $748m IPO priced at top
San Francisco-based company’s shares traded on Thursday at $51.86 each at lunchtime in New York, 53 per cent above their IPO share price
Reddit shares jumped as much as 67 per cent over their initial public offering (IPO) price after the social media company and its shareholders raised $748 million (€689.5 million) priced at the top of a marketed range, sending a strong signal that the window for US IPOs is reopening.
The San Francisco-based company’s shares traded on Thursday at $51.86 each as of 1:39 p.m. New York time, 53 per cent above their $34 per share ...