Liftoff Mobile shares rise 9 percent in Nasdaq debut
The Blackstone-backed mobile app software firm saw its shares open at 25.10 dollars after pricing its IPO above the target range. This successful listing signals a broadening recovery in the U.S. IPO market as investor appetite for growth companies returns.
Liftoff Mobile rose 9.1% to $25.10 in its NASDAQ debut on June 4, valuing the entity at $4.18 billion. The Blackstone-backed firm opened above its $23 IPO price after raising $437 million in an upsized offering. This debut signals a broadening recovery in the United States IPO market as investor appetite for growth-oriented technology companies returns.
### Demand for Mobile Advertising Software Liftoff shares opened at $25.10, up from the $23 IPO price, during the morning. Liftoff provides software that helps mobile app developers attract and retain users through advertising and monetization tools.
