Redfin soars in its first day of trading (RDFN)

Redfin

Redfin, a real estate software and brokerage service provider, soared by as much as 39% on its first day of trading Friday.

The company had priced its initial public offering of about 9.2 million shares at $15 apiece. This was above the expected range of $12 to $14 per share.

Redfin was worth $1.73 billion at the end of trading. Goldman Sachs and Allen & Company were the lead book-running managers for the IPO.

According to a regulatory filing, Redfin doesn’t have any definitive plans for how it intends to use the proceeds of its IPO.

Watch our interview with Redfin CEO Glenn Kelman here:

SEE ALSO:Tobacco stocks tank after FDA says it plans to cut nicotine in cigarettes to non-addictive levels

NOW WATCH: An economist explains what could happen if Trump pulls the US out of NAFTA

Related Items:featured

Share

Tweet

Share

Share

Email

Click to comment

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Comment *

Name *

Email *

Website

Δ

This site uses Akismet to reduce spam. Learn how your comment data is processed.