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Bending Spoons SpA shares rose 14% above their initial public offering price after the company and some of its backers raised $1.68 billion.
Shares of the Milan, Italy-based company, which acquires struggling software businesses, opened on Wednesday at $31 each, above the IPO price of $29 per share, before climbing as high as $33.14. The firm and investors including Baillie Gifford sold 57.97 million shares after marketing them for $26 to $28. Luca Ferrari, CEO, Bending Spoons joined Bailey Lipschultz, Carol Massar and Tim Stenovec from to discuss their first day of trading. (Source: Bloomberg)