Tech-enabled real estate company Compass closed its first day of trading at $20.15, about 12 percent above its IPO price.
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The company priced its shares at $18 apiece, the low end of its target range. Compass raised about $450 million through its IPO, and began trading at $21.25 on Thursday, around 22 percent above its IPO price.
The company initially set a price range of between $23 and $26 before lowering the range on Wednesday to between $18 and $19.
CEO Robert Reffkin said in an interview Thursday that he was pleased with the stock performance on the company’s first day of trading.
“We …
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