Thrift store operator Savers valued at nearly $4 billion in market debut (updated)

Savers Value Village

29/06/2023 17:17

(Adds price at open in paragraph 2, analyst comment in last
paragraph)
       June 29 (Reuters) - Thrift store operator Savers Value
Village  SVV.N  fetched a valuation of nearly $4 billion in its
market debut on Thursday after its shares opened 38% above their
initial public offering price.
    The stock opened at $24.77 per share, compared with the IPO
price of $18 per share. 
    A string of firms have listed shares in the U.S. recently,
reviving hopes the frosty IPO market has begun to thaw.  
    "Combined with lower volatility and the U.S. Federal
Reserve's decision to pause rate hikes, we expect the IPO window
to widen as we head into the second half of the year," Avery
Spear, senior data analyst at Renaissance Capital, said.    
    


 (Reporting by Niket Nishant and Sri Hari N S; Editing by
Krishna Chandra Eluri)
 ((SriHari.NS@thomsonreuters.com;))