Healthcare firm PACS Group's shares rise 9% in NYSE debut (updated)

1000mercis SA

11/04/2024 16:29

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       April 11 (Reuters) - PACS Group  PACS.N  shares rose
9.5% in their debut on the New York Stock Exchange on Thursday,
valuing the healthcare firm at $4 billion.
    The company's shares opened at $23 apiece, above its initial
public offering (IPO) price of $21. It raised $450 million on
Wednesday from the sale of 21.4 million shares in an upsized
offering. 
        The strong debut underscores positive sentiment in the
U.S. IPO market, as the equity market rallies to new highs.
  
        Founded in 2013, PACS is a post-acute healthcare
company, primarily focused on delivering skilled nursing care
through a portfolio of independently operated facilities.
  

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Shilpi Majumdar and Anil D'silva)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com))