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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