San Francisco-Based Real Estate Site Trulia Inc's Shares Jump 30% In NYSE Debut
SAN FRANCISCO (CBS/AP) -- Trulia Inc.'s shares jumped about 30 percent in their debut on the New York Stock Exchange.
The San Francisco-based real estate website operator's shares opened at $22.10 Thursday morning, after pricing at $17 the previous day.
The company and its shareholders planned to sell 6 million shares in the IPO for proceeds of about $102 million.
Earlier this month, Trulia estimated its shares would sell for $14 to $16 each. The $17 IPO price indicates solid demand for the offering.
Trulia operates the website Trulia.com and mobile apps. It allows people to research home listings and neighborhoods, while helping real estate agents market their listings. Its database includes 4.5 million homes for sale and rent.
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