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July 21, 2021, 12:01 p.m. EDT

VTEX stock opens 32% above IPO price to value company at $4.7 billion

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By Tomi Kilgore

VTEX /zigman2/quotes/228075416/composite VTEX -1.73% charged out of the gate Wednesday, as the shares of the U.K.-based software company that helps retailers build e-commerce businesses opened 32.1% above the initial public offering price. The company raised $263.7 million as the IPO priced at $19 a share, above the expected range of $15 and $17 a share. The stock's first trade was at $25.10 at 11:57 a.m. Eastern for 1.8 million shares. At that price, the company was valued at $4.70 billion. The stock has pared some gains since the open, to trade up 31.6% at $35.00 in recent trading. The company went public on a relatively good day for IPO stocks, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -4.67% rose 1.5% in midday trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.39% tacked on 0.7%.

/zigman2/quotes/228075416/composite
US : U.S.: NYSE
$ 4.55
-0.08 -1.73%
Volume: 383,119
May 16, 2022 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$884.46 million
Rev. per Employee
$72,827
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 29.61
-1.45 -4.67%
Volume: 135,245
May 16, 2022 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,008.01
-15.88 -0.39%
Volume: 2.21B
May 16, 2022 5:14p
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