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’s IPO, the fourth largest this year, is a high-profile addition to 2024’s roster of newly and soon-to-be public companies. Picture: Getty

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 ...