NEW YORK: Shareholders of used car online auction company ACV Auctions Inc raised US$414mil in an initial public offering (IPO) priced above its marketed range.
The ACV shareholders sold 16.55 million shares in the IPO for US$25 (RM103.33) each, according to a statement. The Buffalo, New York-based company, which provides an online marketplace for auctioning used cars, had marketed shares at US$20 to US$22 each, a range that it earlier elevated from US$18 to US$20.
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