Zillow Surges on First Day After Pricing IPO Above Range
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Zillow Inc., an online real estate information service, surged in its trading debut after selling shares above an increased price range in its initial public offering.
The Seattle-based company’s stock, trading on the Nasdaq Stock Market under the symbol Z, climbed 79 percent to $35.77 as of 4 p.m. New York time, after earlier tripling to $60. Zillow raised $69.2 million yesterday selling 3.46 million shares at $20 apiece, above the offering range of $16 to $18.