Redfin, a real estate software and brokerage service provider, soared by as much as 39% on its first day of trading Friday.
ADVERTISEMENT
Redfin soars in its first day of trading (RDFN)
Real estate software-company Redfin soared by as much as 39% on its first day of trading.
null
ADVERTISEMENT
The company had priced its initial public offering of about 9.2 million shares at $15 apiece. This was above the expected range of $12 to $14 per share.
Redfin was worth $1.73 billion at the end of trading.
According to a regulatory filing, Redfin doesn't have any definitive plans for how it intends to use the proceeds of its IPO.
ADVERTISEMENT
Watch our interview with Redfin CEO Glenn Kelman here:
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Top 5 African cities with the most unaffordable real estate in 2024
US says it is still engaged with West African juntas
Opinion Piece: Accelerating sustainable development goals through better agricultural risk management
Zimbabwe is set to honor Russian victory with a monument
Top cross-border payment companies in Africa on recent global ranking
Studio Monkey in collaboration with Worldwide FM and Gilles Peterson launches initiative to support grassroot music communities
NexaScale marks one-year milestone with visionary initiatives empowering Africa's youth for the future of work
How Patrice Motsepe-backed GoSolr wants to solve South Africa's power crises