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Sept. 22, 2021, 12:15 p.m. EDT

Freshworks stock soars more than 20% on its public debut

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By Tomi Kilgore

Freshworks Inc. /zigman2/quotes/229432462/composite FRSH -12.41% was cheered by investors in their public debut, as the California-based the customer experience and management services provider's stock opened 20.8% above the initial public offering price. The company said overnight that the IPO priced at $36 a share, above the expected range of between $32 and $34 a share, as the company raised $1.03 billion. The stock's first trade was at $43.50 at 12:06 p.m. Eastern for 3.6 million shares. At the price, the company was being valued at about $12.2 billion. The stock has since added to gains, and was trading up 29.2% at $46.50. The stock's strong debut comes on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -6.81% surged 1.3% in midday trading and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.18% rallied 1.1%.

/zigman2/quotes/229432462/composite
US : U.S.: Nasdaq
$ 30.85
-4.37 -12.41%
Volume: 1.20M
Dec. 1, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.12 billion
Rev. per Employee
$69,640
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 58.75
-4.29 -6.81%
Volume: 169,090
Dec. 1, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,513.04
-53.96 -1.18%
Volume: 3.04B
Dec. 1, 2021 5:04p
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