Yext Shares Trading Above Issue Price In Market Debut

By Caitlin HustonMarketsMarketWatch Pulse

Shares of Yext Inc. were trading at $13.74 Thursday morning, above the company's $11 issue price, in the stock's debut on the New York Stock Exchange. The New York-based company, which helps businesses streamline locations and other data across digital platforms, sold 10.5 million shares to raise $115.5 million at a valuation of $940 million. Underwriting banks have the option to buy an additional 1.6 million shares. Morgan Stanley, J.P. Morgan and RBC Capital Markets were the lead underwriters on the offering.

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