Deals
LendingClub Surges in Debut After $870 Million U.S IPO
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LendingClub Corp. soared to an $8.46 billion valuation after its initial public offering, shining a spotlight on the peer-to-peer lending industry and setting high expectations for growth.
LendingClub and its backers raised a larger-than-expected $870 million from the IPO, which was priced at $15. Shares closed 56 percent higher at $23.43 today in New York, lifting the company’s market value higher than all but 13 U.S. banks, data compiled by Bloomberg show.