Mastercard-backed AvidXchange valued at $4.6 bln in tepid debut

AvidXchange Holdings

13/10/2021 17:11

Oct 13 (Reuters) - AvidXchange Inc  AVDX.O  opened around
3.4% below its initial public offering price in its Nasdaq debut
on Wednesday, giving the U.S. business payments firm a market
capitalization of roughly $4.62 billion.
    Shares of the company, which counts Mastercard Inc  MA.N 
among its investors, opened at $24.14, compared with the IPO
price of $25 per share. 

 (Reporting by Sohini Podder in Bengaluru; editing by
Uttaresh.V)
 ((Sohini.Podder@thomsonreuters.com;))