Thoughtworks stock up 33% on first day
By Daniel Tyson
19:48, 15 September 2021
Technology consulting company Thoughtworks raised $773m(£558.39m) through an IPO as share prices rose 33% Wednesday afternoon, giving the company a value of $8.4bn.
The Chicago-based company's stock began trading at $21 per share. At about 2:45 pm EDT shares were trading at $27.70 and, half an hour later, at $28.08 before closing at $29.39.
The company sold nearly 37 million shares, according to a press release
Thoughtworks, formerly known as Turning Holdings Corp., is listed under the tick “TWKS” on the Nasdaq Global Select Market.
Goldman Sachs Group and JP Morgan Chase led the offering.