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Sept. 18, 2020, 10:29 a.m. EDT

Vitru's stock debuts with a slight gain, as first trade was less than 2% above the IPO price

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By Tomi Kilgore

Shares of Vitru Ltd. /zigman2/quotes/220991531/composite VTRU -2.72% limped out of the gate Friday, with the first trade 1.6% above the initial public offering price. The Brazil-based digital education company said Friday that its downsized IPO priced at $16 share, at the low end of the expected range of $16 to $18 a share, which was recently lowered from expectations of $22 to $24. The stock's first trade on the Nasdaq was at $16.25 at 10:25 a.m. Eastern for 110,436 shares. The company sold 6 million shares in the IPO, which was lowered recently from 11.23 million shares, to raise $96 million. The company was valued at $368.9 million at the IPO price. The stock has pared some gains since it opened, to trade up just 0.7% at $16.11. Vitru's public debut comes at the end of a busy week for IPOs, which was highlighted by Snowflake Inc.'s /zigman2/quotes/220991541/composite SNOW -5.97% red-hot debut earlier this week. The Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.78% has rallied 20.4% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.21% has gained 7.7%.

/zigman2/quotes/220991531/composite
US : U.S.: Nasdaq
$ 11.45
-0.32 -2.72%
Volume: 8,971
Oct. 30, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$243.01 million
Rev. per Employee
N/A
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/zigman2/quotes/220991541/composite
US : U.S.: NYSE
$ 250.02
-15.86 -5.97%
Volume: 2.40M
Oct. 30, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$70.23 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 50.68
-1.99 -3.78%
Volume: 478,004
Oct. 30, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,269.96
-40.15 -1.21%
Volume: 3.01B
Oct. 30, 2020 5:18p
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