(Reuters) – Thrift store operator Savers Value Village fetched a valuation of nearly $4 billion in its market debut on Thursday after its shares opened 38% above their initial public offering price.
The stock opened at $24.77 per share, compared with the IPO price of $18 per share.
A string of firms have listed shares in the U.S. recently, reviving hopes the frosty IPO market has begun to thaw.
“Combined with lower volatility and the U.S. Federal Reserve’s decision to pause rate hikes, we expect the IPO window to widen as we head into the second half of the year,” Avery Spear, senior data analyst at Renaissance Capital, said.
(Reporting by Niket Nishant and Sri Hari N S; Editing by Krishna Chandra Eluri)
