This post was originally published on this site
The company issued 3.70 million shares priced at $102 per share, which surpassed its initial $85-$95 price target. It raised $521 million through the IPO, indicating a $3.70 billion company valuation, which is 54.2% higher than its $2.40 billion private market valuation.
The stock opened at $141 on its first trading day, up 38.2% from its pre-listing price. In fact, DUOL gained 14.5% within the first week to hit its $152.84 all-time high on August 5.
