Groupon shares jump up 50% on Nasdaq debut
It’s been a great day for Groupon; the daily coupon deal site has seen its shares jump up almost 50% on the company’s trading debut in New York.
Originally listed on the Nasdaq at $20 a share, the share value quickly rose to $29.95. Groupon had predicted shares to sell at around $16, but demand forced the price higher, with the company also eventually selling more than the 30 million shares they had initially marked out for trading.
Selling in the end closer to 35 million shares, Groupon were said to have raised some $700 million (£437 million).
That may sound like a massive amount of shares, but in reality only represents around 5% of the company.
With Groupon now valued at $12.7 billion, they become the second biggest company to make a market debut.
The biggest? Google.