May 16 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