Shopify Shares Rally Almost 50% in Public Debut

NEW YORK ( TheDeal) -- Shares of Shopify (SHOP) soared almost 50% in their trading debut Thursday afternoon after the Canadian e-commerce and software company priced its initial public offering ahead of its anticipated range.

Toronto-based Shopify revealed late Wednesday the pricing of 7.7 million Class A shares of common stock at $17 a share, raising $131 million and assigning the company a valuation of about $1.27 billion.

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