Dutch Bros cheered in public debut, as stock opens 41% above IPO price
Dutch Bros Inc. (BROS) was cheered in its public debut, as the drive-through coffee coffee chain's stock opened 41.3% above the initial public offering price. The company had said overnight that it raised $484.2 million as its 21.05 million-share IPO priced at $23 a share, well above the expected range of between $18 and $20 a share. The stock's first trade on the NYSE was at $32.50 at 12:20 p.m. Eastern for 2.6 million shares. The stock has since added to gains, to trade up 46.1% at $33.60. The company went public on a day that the
(END) Dow Jones Newswires
September 15, 2021 12:23 ET (16:23 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.