Sun Country Airlines stock is up sharply on its first day of trading, following an initial public offering that went better than expected for the Twin Cities-based airline.
Bloomberg has a report on the IPO, which priced at $24 a share, generating about $218 million for Sun Country. The airline had previously sought a price in the range of $21 to $23 per share.
MarketWatch reports that the deal valued the airline at $1.3 billion.
The company’s valuation has increased since then, though — Sun Country’s shares are up more than 40% at midday, trading at over $34 per share.
Sun Country, which keeps its headquarters at Minneapolis-St. Paul International Airport, will debut on the Nasdaq market under the symbol SNCY. Read more…..
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