SoftBank-Backed Compass Rises in Debut After Slashing IPO Size
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Real estate brokerage Compass Inc., backed by SoftBank Group Corp.’s Vision Fund, rose in its trading debut after pricing a $450 million initial public offering at the bottom of a reduced range.
The company’s shares opened at $21.25 Thursday after it sold 25 million for $18 each in the IPO. The shares were selling for $20.60 at 12.16 p.m. in New York trading, giving Compass a diluted valuation of about $10.3 billion including restricted stock units and options, according to Bloomberg’s calculation.