Party goods retailer Party City’s shares rise 22 pct in debut

Party goods retailer Party City’s shares rise 22 pct in debut
News from Reuters:

April 16 (Reuters) – Party City Holdco Inc shares rose as much as 22.6 percent in their debut on Thursday, valuing the largest U.S. party goods retailer at about $ 2.4 billion.

Shares of the company, backed by buyout firm Thomas H. Lee Partners LP, opened at $ 20.50 and touched a high of $ 20.84 on the New York Stock Exchange in early trading.

Party City sold all 21.9 million shares in the initial public offering at $ 17 each, at the higher end of the expected range, raising about $ 372 million.

The company has 900 party superstores in the United States and Canada that sell Halloween costumes and party supplies such as paper and plastic tableware, balloons and gifts.

Goldman Sachs and BofA Merrill Lynch were the lead underwriters for the offering. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Joyjeet Das)

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Related News:

Party City Celebrates IPO on the New York Stock Exchange
News from MarketWatch:

NEW YORK, Apr 16, 2015 (BUSINESS WIRE) — Party City Holdco Inc. (“Party City”) PRTY, +4.20% opened for trading today on the New York Stock Exchange (NYSE) under the ticker symbol “PRTY” after its initial public offering on the floor of the NYSE. Barclays is the Designated Market Maker for the company’s stock.

CEO James M. Harrison, joined by members of Party City’s leadership team, commemorated the company’s public debut by ringing the NYSE Opening Bell® and visiting the trading floor to watch the stock open.

“We’re excited to welcome Party City to the NYSE’s community of the world’s most recognized brands,” said NYSE Group Global Head of Capital Markets, Garvis Toler. “Party City is a leading party goods retailer and a destination for customers celebrating life’s memorable events, including today’s once in a lifetime IPO on the floor of the New York Stock Exchange. We look forward to many more milestones with the company as part of the NYSE family of listed companies……………. continues on MarketWatch

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