Shawshank, VA 7/19/12 (StreetBeat) – Five Below (Nasdaq: FIVE) pops 55% in its IPO debut on the Nasdaq today. The company priced its IPO at $17, the top of its IPO price range, and is currently trading at $26.44.
9.6 million shares are being sold in this IPO, split between the company and shareholders. The underwriters include Goldman Sachs, Barclays, and Jefferies.
The Wall Street Journal comments on IPOS this year that this will help “the already high average for first-day IPO pops seen this year and set a high bar for a list of other IPOs coming this week, including long awaited Kayak Software and Palo Alto Networks. Palo Alto also boosted its price range this week.”
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