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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 +1.10% 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 -0.38% rose 1.6% while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.56% slipped 0.2%.

/zigman2/quotes/222596028/composite
US : U.S.: Nasdaq
$ 17.43
+0.19 +1.10%
Volume: 692,735
Feb. 1, 2023 2:02p
P/E Ratio
40.59
Dividend Yield
N/A
Market Cap
$4.86 billion
Rev. per Employee
$331,115
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 28.54
-0.11 -0.38%
Volume: 10,598
Feb. 1, 2023 12:24p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,053.91
-22.69 -0.56%
Volume: 0.00
Feb. 1, 2023 2:02p
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