Ancestry.com Surges After Company Raises $100 Million
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Ancestry.com Inc., the world’s largest online provider of family histories, surged in its first day of trading after raising $100 million in an initial public offering.
The Provo, Utah-based company advanced 70 cents, or 5.2 percent, to $14.20 at 4 p.m. in Nasdaq Stock Market composite trading. Ancestry.com, private-equity firms Spectrum Equity Investors and W Capital Partners, and other owners sold 7.41 million shares at $13.50 each, the midpoint of its forecast range in its IPO yesterday. The sale valued the company at about $572 million, and the shares trade under the ticker ACOM.