Container Store nearly doubles in market debut on NYSE
Shares of Container Store Group, which sells products ranging from laundry baskets to luggage, nearly doubled in its market debut Friday, 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 on the New York Stock Exchange and was above $36 by midday. (Click here for the latest stock price.)
Lead underwriters were JPMorgan, Barclays, Credit Suisse, Morgan Stanley, Merrill Lynch Pierce Fenner & Smith, Wells Fargo and Jefferies.
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