NerdWallet shares soar 48% in post-IPO trading debut

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Shares of personal finance website NerdWallet Inc. NRDS, +57.22% soared 48% in their trading debut Thursday, after the company’s initial public offering priced at $18 a share, the midpoint of its proposed $17 to $19 range. The company sold 7.25 million shares to raise $130.5 million. With 64.7 million shares expected to be outstanding after the deal, the company’s valuation is $1.2 billion. The stock is trading on Nasdaq later Thursday under the ticker “NRDS.” Morgan Stanley was lead underwriter in a syndicate of eight banks.

This article was originally published by Marketwatch.com. Read the original article here.

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