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Nov. 20, 2020, 12:08 p.m. EST

Sotera Health's stock rallies out of the gate to lift the market cap above $7 billion

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By Tomi Kilgore

Shares of Sotera Health Co. /zigman2/quotes/222596028/composite SHC -0.48% started their public life with a rally Friday, as the first trade of the sterilization and lab-testing services provider's stock was 17.4% above the initial-public-offering price. The IPO priced late Thursday at $23 a share, at the top of the expected range. The stock's first trade was at $27.00 at 12:00 p.m. Eastern for 4.6 million shares. It has since pared some gains to trade up 13.5%, to imply a market capitalization of $7.25 billion. The company went public on a day of relatively good investor demand for recent IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -4.67% rose 1.6% while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.89% slipped 0.2%.

/zigman2/quotes/222596028/composite
US : U.S.: Nasdaq
$ 20.60
-0.10 -0.48%
Volume: 303,605
Jan. 21, 2022 4:00p
P/E Ratio
155.94
Dividend Yield
N/A
Market Cap
$5.83 billion
Rev. per Employee
$302,358
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 44.67
-2.19 -4.67%
Volume: 326,133
Jan. 21, 2022 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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