Mytheresa's parent stock soars in its public debut, with the first trade 38% above the IPO price

Shares of MYT Netherlands Parent B.V. /zigman2/quotes/223883413/composite MYTE +8.72% soared out of the gate Thursday, as the parent of Germany-based luxury e-commerce retailer Mytheresa Group GmbH raised $354.8 million through its initial public offering, while selling shareholders raised $52.0 million. The first trade for the stock on the NYSE was at $35.85 at 11:50 a.m. Eastern for 2.3 million shares, which was 37.9% above the $26 IPO price. With 85.8 million shares outstanding after the IPO, the IPO pricing valued the company at about $2.23 billion. The stock has pared some of its opening gains, and was up 27.4% in midday trading. MYT went public at a time of strong investor interest in IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.05% has run up 28.4% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.95% has gained 12.0%.

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MYT Netherlands Parent B.V. ADR

US : U.S.: NYSE

$ 27.19

+2.18 +8.72%

Volume: 916,102

March 5, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$2.33 billion

Rev. per Employee

N/A

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Renaissance IPO ETF

US : U.S.: NYSE Arca

$ 62.03

+0.03 +0.05%

Volume: 846,915

March 5, 2021 8:00p

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S&P 500 Index

US : S&P US

3,841.94

+73.47 +1.95%

Volume: 3.33B

March 5, 2021 5:44p