Sun Country Airlines Prices IPO Above Target, Shares Jump On Debut

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…..