Shopify Inc. raised $131 million in a larger-than-expected initial public offering, as investors clamored for stock in the provider of software for small businesses.
Shopify sold 7.7 million shares for $17 apiece, according to a statement Wednesday. That’s above the range of $14 to $16 a share at which the shares were offered to investors. That range was boosted this week by $2 a share.
The stock will be listed on the New York Stock Exchange under the symbol SHOP and on the Toronto Stock Exchange under the symbol SH.