Microsoft-backed Rubrik's stock jumps nearly 21% in NYSE debut (updated)

Rubrik

25/04/2024 17:51

(Adds details on IPO in paragraphs 3-4)
       April 25 (Reuters) - Rubrik's  RBRK.N  shares rose
nearly 21% in their debut on the New York Stock Exchange on
Thursday, giving the Microsoft-backed cybersecurity firm a
valuation of $6.77 billion.
    The startup joins a list of companies that have seen strong
debuts recently as initial public offerings bounce back on hopes
of a soft landing for the economy, where inflation falls without
a recession or big job losses.
    Rubrik raised $752 million in its upsized IPO selling 23.5
million shares at $32 each, above the $28 to $31 range it had
marketed earlier.
    The company's IPO was underwritten by a syndicate of more
than a dozen banks including Goldman Sachs, Barclays, Citigroup
and Wells Fargo Securities.

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