Sterling Check extends gains after Nasdaq debut

Remitly Global

23/09/2021 19:14

** Shares of Goldman Sachs-backed  GS.N  tech platform
 STER.O  extend gains in afternoon trading, up nearly 22% from
IPO price at $27.96
    ** Shares opened 17% above IPO price at $27/shr, valuing the
company at $2.5 bln; IPO price was $23/shr
    ** On Wednesday, co priced offering above range to raise
nearly $328.6 mln
    ** STER offers background and identity-verification
services; GS affiliates to own nearly two-thirds of outstanding
shares post IPO
    ** Goldman Sachs & Co, J.P. Morgan and Morgan Stanley were
the lead underwriters for the IPO
    ** Remittance processor Remitly Inc  RELY.O , enterprise
software co EngageSmart LLC  ESMT.N  and jewelry maker Brilliant
Earth  BRLT.N  all soared in their market debuts on Thursday

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