Shares of Mission Produce AVO jumped nearly 20% in the company's trading debut on the Nasdaq Thursday.
The avocado company opened at $12.25 per share, above its $12 pricing. That Wednesday pricing was below the target range of $15 to $17 per share the company had originally sought.
The company also downsized the offering to 8 million shares from its previous 9.375 million share plan.
6.25 million of those 8 million shares are being offered by the company with the remaining 1.75 million shares being offered by certain shareholders.
Underwriters JPMorgan, Bank of America and Citigroup have a 30-day option to purchase 1.2 million shares at the price of $12 per share.
Shares were trading up 17.55% to $14.11 at last check Thursday afternoon.
Mission may be debuting publicly, but the company is more than 35 years old with farms throughout California, Mexico and Peru with 11 distribution network centers located in America, Europe and China.
The company has reported a 14% compound annual sales growth rate as its volume increased 13% between 2009 and 2019.
The company says its vertical integration allows it to have dual source supply of its avocados.
Avocado prices have jumped in recent years, helping Mission's annual revenue jump from $600 million in 2016 to $883 million in 2019.
Growth however has been slowing, with the company reporting revenue of $934 million in the twelve months trailing the second quarter.