January 31, 2020 / 3:44 PM / 19 days ago

Household goods maker Reynolds shares pop 6% in market debut

Jan 31 (Reuters) - Shares of household goods maker Reynolds Consumer Products weathered market jitters fueled by the spread of the coronavirus to rise 6% in their debut, marking an optimistic start to the 2020 IPO season.

The company’s shares opened at $27.5, giving Reynolds a market value of $5.57 billion.

Earlier on Thursday, Reynolds priced its IPO of 47.2 million shares at $26, within the marketed price range of $25-$28 per share, raising about $1.2 billion.

It is the first U.S. IPO in 2020 to raise more than $1 billion and leaves the door open for more large offerings. (Reporting by Bharath Manjesh in Bengaluru; Editing by Arun Koyyur)

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