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GoDaddy's IPO surge over 30% on debut

By Religare
|

GoDaddy Inc, the Internet domain registrar, shares surged over 30 per cent in its IPO debut on Wednesday following a USD 460 million initial public offering, as investors spotted a bargain in a company making a shift from Internet domains to small-business services.

The stock of GoDaddy opened at USD 26.15 and touched a high of USD 26.84 on the New York Stock Exchange (NYSE. Its public debut comes a day after it raised USD 460 million from selling 23 million class shares priced at USD 20, above its expected range.

 

Morgan Stanley, JP Morgan Chase & Co and Citigroup Inc were the lead underwriters for the IPO.

Following its stock market debut, the company is currently valued at up to USD 5.48 billion, including debt.

Meanwhile, shares of the Company closed at USD 26.15, up 30.75 per cent on the NYSE.

Story first published: Thursday, April 2, 2015, 12:40 [IST]
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