GoDaddy shares are jumping in their market debut after the Web hosting company known for racy TV commercials priced its initial public offering of stock above expectations.
The stock rose $6.15, or 31 percent, to $26.06, well above the IPO price of $20 per share. That marked an increase from the prior high estimate of $19 per share.
Overall, the Scottsdale company is offering 23 million shares and hopes to raise up to $460 million in the offering. Underwriters have a 30-day option to buy up to an additional 3 million shares.
The lead underwriters are Morgan Stanley & Co., J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
