Retailer Container Store's shares double in debut
Nov 1 (Reuters) - Shares of Container Store Group Inc , which sells products ranging from laundry baskets to luggage, doubled in their market debut, valuing the company at about $1.63 billion.
The Coppell, Texas-based company raised $225 million after its initial public offering was priced at $18 per share, the top end of its expected price range. The company sold 12.5 million shares in the offering.
Container Store's shares opened at $35 and touched a high of $35.87 on the New York Stock Exchange on Friday.
Lead underwriters were J.P. Morgan, Barclays, Credit Suisse, Morgan Stanley, Merrill Lynch Pierce Fenner & Smith, Wells Fargo and Jefferies.