Party time: Shares of Party City jump over 20 percent in stock market debut

Markets Associated Press

Shares of Party City jumped over 20 percent in their stock market debut Thursday.

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The Elmsford, New York, company designs, sells and makes balloons, invitations, costumes and other party goods. It operates about 900 stores and sells its products in other retailers.

Party City raised about $372 million in its initial public offering, selling 21.9 million shares at $17 per share.

The stock is listed on the New York Stock Exchange under the symbol "PRTY."

Shares of Party City Holdco Inc. rose $3.60, or 21.2 percent, to $20.60 in morning trading Thursday.