April 4 Shares of online food delivery company
GrubHub Inc rose as much as 57 percent in their market
debut, valuing the company at about $3.20 billion.
The Chicago-based company's initial public offering raised
about $193 million after its upsized offering was priced at $26
per share, above its expected range. At the offer price, the
company was valued at $2.04 billion.
Of the 7.4 million class shares on offer, the company sold 4
million, with the rest being sold by selling stockholders.
The company had earlier planned an offering of 7.03 million
shares at between $23 and $25 apiece.
GrubHub's shares opened at $40 and touched a high of $40.80
on the New York Stock Exchange on Friday.
Citigroup and Morgan Stanley were the lead underwriters to
(Reporting by Tanya Agrawal in Bangalore; Editing by Maju