Jewelry maker Brilliant Earth up in NYSE debut after downsizing IPO

Brilliant Earth

23/09/2021 18:28

** Shares of jewelry co  BRLT.O  open 8.3% above their IPO
price in stock market debut
    ** Stock opens at $13/shr, compared with IPO price of
$12/shr
    ** On Wednesday, co sold roughly 8.33 mln shares in its
downsized IPO, raising close to $100 mln
    ** BRLT had earlier aimed to raise up to $267 mln
    ** Founded in 2005, BRLT promises a digital-first,
environment-conscious approach to jewelery making and
distribution
    ** Co caters chiefly to millennials and gen Z customers, it
says
    ** J.P. Morgan, Credit Suisse, Jefferies and Cowen were the
lead underwriters for the IPO

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))