VTEX VTEX, +16.74% charged out of the gate Wednesday, as the shares of the U.K.-based software company that helps retailers build e-commerce businesses opened 32.1% above the initial public offering price. The company raised $263.7 million as the IPO priced at $19 a share, above the expected range of $15 and $17 a share. The stock’s first trade was at $25.10 at 11:57 a.m. Eastern for 1.8 million shares.
At that price, the company was valued at $4.70 billion. The stock has pared some gains since the open, to trade up 31.6% at $35.00 in recent trading. The company went public on a relatively good day for IPO stocks, as the Renaissance IPO ETF IPO, +1.73% rose 1.5% in midday trading while the S&P 500 SPX, +0.82% tacked on 0.7%.