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SoftBank-Backed Lemonade Jumps 86% in $319 Million U.S. Debut

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Source: FG Trade/iStockphoto

Lemonade Inc., the online home insurance provider backed by SoftBank Group Corp., jumped as much as 86% after raising $319 million in its U.S. initial public offering.

Shares of the company opened at $50.06 and rose as high as $53.96 in New York trading Thursday. It sold 11 million shares at $29 apiece on Wednesday after marketing them at $26 to $28 each, statements show.