ACV Auctions: Opens 28% above offer price in Nasdaq debut

ACV Auctions

24/03/2021 16:09

** Shares of auto marketplace  ACVA.O  open 28% above offer
price in market debut
    ** Stock opens at $32/shr, up from IPO price of $25/shr
    ** Buffalo, New York-based ACVA raised around $414 mln in
its IPO, selling about 16.6 mln shares  urn:newsml:reuters.com:*:nGNX6w3gwM
    ** At debut price, ACV was valued at $4.93 bln
    ** Co provides an online platform for franchise and used-car
dealerships to buy and sell wholesale inventory through
20-minute auctions
    ** Goldman Sachs, JP Morgan and Citigroup are among the
underwriters for the offering

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))