By Christiana Sciaudone
Investing.com — Thirsty buyers despatched Lemonade Inc. (NYSE:)increased in its first day of buying and selling on Thursday, driving its worth up by 130% to greater than $69.
The net dwelling insurance coverage supplier, which has acquired main funding from SoftBank, opened at $50.06 after pricing at $29. They closed the primary day of buying and selling at $69.41.
LMND jumped 120% after elevating $319 million in its preliminary public providing in New York. SoftBank maintains an virtually 22% stake within the firm, which bought 11 million shares at $29 every on Wednesday after advertising them at $26 to $28 every.
Final 12 months, SoftBank led a $300 million funding spherical in Lemonade, which has but to show a revenue.
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