TrueCar.com owner's shares rise about 15 pct in debut

Fri May 16, 2014 11:14am EDT

May 16 (Reuters) - Shares of TrueCar Inc, owner of car comparison website TrueCar.com, rose about 15 percent in their market debut, valuing the company at about $735 million.

The company, which sold all the 7.78 million shares, raised about $70 million after its initial public offering was priced at $9 per share, well below the expected range of $12 to $14.

TrueCar's shares opened at $9.70 and touched a high of $10.34 on the Nasdaq on Friday.

Goldman Sachs & Co, JPMorgan and RBC Capital Markets were the lead underwriters for the IPO. (Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila)

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