Shares in online scrapbook company Pinterest
surged more than 28% on its first day of trading, valuing the firm at about
$16bn (£12bn).
The shares
opened in New York at $23.75, well ahead of the $19 they were priced at, and
closed at $24.40.
Pinterest’s
listing is regarded as an indicator of investor appetite for “unicorns” –
private, venture capital-backed firms valued at more than $1bn.
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