KinderCare valued at about $3.1 bln as shares jump in strong NYSE debut (updated)

Bright Horizons Family Solutions

09/10/2024 17:22

(Rewrites throughout)
       Oct 9 (Reuters) - Partners Group-backed KinderCare
Learning Companies  KLC.N  notched a market valuation of about
$3.1 billion after its shares opened 12.5% above its initial
public offering price on its NYSE debut on Wednesday. 
    KinderCare's shares opened at $27, after the firm had priced
its offering at $24 apiece to raise $576 million.
    The demand for childcare services in the United States is
rising due to firms implementing return-to-office protocols
following the pandemic and an increased participation rate of
women in the workforce. 
    KinderCare is one of the largest private providers of early
childhood education in the U.S. by center capacity.
    
    

 (Reporting by Vedant Vinayak Vichare and Jaiveer Shekhawat in
Bengaluru; Editing by Vijay Kishore and Krishna Chandra Eluri)
 ((Vedant.VinayakVichare@thomsonreuters.com;))