Shares of organic foods maker Annie's Inc. BNNY +89.05% rose 89% Wednesday in their first day of trading, another hopeful signal for an initial public offering market that has been in torpor for months, the Wall St Journal reports.
Stock in Annie's, known for its organic macaroni and cheese, was originally sold for $19 per share late Tuesday. When the shares opened for public trading Wednesday, they started trading at $31.11. Investor demand took them still higher, and by 4 p.m., the shares were selling for $35.92 on the New York Stock Exchange, giving the company a market value of about $600 million.
That performance made Annie's the single best IPO performance since LinkedIn Corp. LNKD -1.19% went public in May 2011, according to data from Dealogic…..
Find out more at http://online.wsj.com/article/SB10001424052702303404704577309534266590926.html?mod=business_newsreel
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