Shares of Canadian e-commerce software maker Shopify jump in debut

Thu May 21, 2015 10:03am EDT
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May 21 (Reuters) - Shares of Shopify Inc , a Canadian e-commerce software maker, rose as much as 69 percent in their trading debut on the New York Stock Exchange, valuing the company at up to $2.14 billion.

The company's initial public offering of 7.7 million class A subordinate shares raised about $131 million, after it was priced at $17, above the top end of the expected range of $14-$16.

Ottawa-based Shopify, which also listed its shares on the Toronto Stock Exchange, sold all the 7.7 million shares in the offering.

Shopify shares rose to a high of C$35.03 on the Toronto Stock Exchange.

The stock opened at $28 on the NYSE and touched a high of $28.70.

Morgan Stanley, Credit Suisse, Raymond James and RBC Dominion Securities are among the underwriters to the IPO. (Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)