The OnDeck website
OnDeck
Shares of OnDeck Capital, an online lender to small businesses, rose as much as 37 percent in their debut, valuing the company at up to $1.8 billion.
The company raised $200 million after its initial public offering was priced at $20 per share, well above the expected range of $16 to $18.
OnDeck Capital's shares opened at $26.50 on the New York Stock Exchange and touched a high of $27.33.
Morgan Stanley, Bank of America/Merrill Lynch, Pierce, Fenner & Smith, JP Morgan Securities, and Deutsche Bank Securities are among underwriters to the IPO.