Healthcare firm Guardian Pharmacy valued at about $880 million after lukewarm NYSE debut (updated)

Guardian Pharmacy Services

26/09/2024 16:16

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       Sept 26 (Reuters) - Guardian Pharmacy's  GRDN.N  shares
rise 3.3% in their NYSE debut, giving the healthcare firm a
market valuation of about $880 million, as investors remain
selective about new listings.
    Shares of the Atlanta, Georgia-based firm debuted at $14.46
apiece compared to their IPO price of $14.
        The company on Wednesday had 
    raised
     $112 million  by selling 8 million shares of Class A common
stock at the low-end of its targeted range of $14 to $16 each.
  
    The U.S. capital markets have recovered strongly after two
dismal years of IPO activity, on the back of expectations of
Quantitative Easing will help restore investor appetite for new
entrants.
        However, investors have been cautious about new listings
even as 
    technology has been the dominant sector
     for new issues in the U.S. 
  
        
  


 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Shreya Biswas and Tasim Zahid)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))