Investing.com investing.com 14 Jan, 2021 02:30 am

Petco prices IPO above target range to raise $816 million By Reuters

Petco prices IPO above target range to raise $816 million By Reuters
Petco prices IPO above target range to raise $816 million

By Joshua Franklin (Reuters) - Pet retailer Petco Health and Wellness Company Inc said on Wednesday it sold shares in its initial public offering (IPO) at $18 apiece, above its target range, to raise about $816.Petco, which is owned by the Canada Pension Plan Investment Board (CPP Investments) and private equity firm CVC Capital Partners, had aimed to sell 48 million shares at a target range of $14 to $17 per share.Earlier in the day, shares of online lender Affirm Holdings Inc doubled in their Nasdaq debut after selling shares in its IPO above the company's target range.Founded in 1965, Petco was acquired CPP Investments and CVC Capital Partners in 2015 for about $4.

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