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U.S. pet retailer Petco valued at over $5 billion after Nasdaq debut


2 Min Read
(Reuters) - Shares of Petco Health and Wellness Co Inc jumped as much as 72.7% in their market debut on Thursday, giving the U.S. pet supplies retailer a market capitalization of $6.81 billion.
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The company’s shares opened at $26, 44.4% above its initial public offering (IPO) price of $18 per share.
Petco offered 48 million shares and raised $864 million in its IPO as it cashed in on a pandemic-driven surge in pet adoptions and spending on pet care.
The debut comes at a time that could be the biggest week for new listings in over five years, as companies rush to take advantage of the strongest market for IPOs in nearly two decades, after a lull last year. ....

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Petco soars 73% in first day of trading after raising $817 million


Petco soars 73% in first day of trading after raising $817 million
Matthew FoxJan 15, 2021, 00:50 IST
AP Photo/Tony Dejak
The pet-centric retailer raised $817 million in its
IPO debut after its shares priced at $18.
The IPO frenzy has continued into 2021 following the trading debut surges of Affirm and PoshMark.
Petco soared in its first day of trading on Thursday, leaping as much as 72% in initial trades after raising $817 million in proceeds. The company priced its IPO at $18 per share and sold 48 million shares.
The Pet Care company operates about 1,470 pet-care centers that sell food, toys, and supplies for a range of pets. The company also offers professional services like grooming, vet care and pet training. ....

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