VTEX
VTEX,
+19.55%
charged out of the gate Wednesday, as the shares of the U.K.-based software company that helps retailers build e-commerce businesses opened 32.1% above the initial public offering price. The company raised $263.7 million as the IPO priced at $19 a share, above the expected range of $15 and $17 a share. The stock's first trade was at $25.10 at 11:57 a.m. Eastern for 1.8 million shares. At that price, the company was valued at $4.70 billion. The stock has pared some gains since the open, to trade up 31.6% at $35.00 in recent trading. The company went public on a relatively good day for IPO stocks, as the Renaissance IPO ETF
IPO,
+1.68%
rose 1.5% in midday trading while the S&P 500
SPX,
+0.70%
tacked on 0.7%.