Pandora's high growth and strong margins made the share offer attractive
Pandora shares, priced at 210 Danish crowns in the initial public offering, leapt
whatever in lively trading and closed up at 263, giving investors a 25 percent gain and valuing the company at about $6.1 billion.
More than 4 billion crowns ($739 million) of Pandora stock changed hands on the Copenhagen stock exchange -- nearly double the normal daily turnover for the whole bourse.
Analysts said Pandora's high growth and strong margins made the share offer attractive to investors hungry for new stock after a period of scant IPO activity, despite
whatever its short track record and heavy reliance on a single product.
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