(Reuters) -Shares of Voyager Technologies rose 125% in their New York Stock Exchange debut on Wednesday, valuing the defense and space firm at $3.8 billion.
The Denver, Colorado–based company’s stock opened at $69.75 apiece, above the $31 offer price. Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO.
Voyager’s successful flotation comes months after defense and space systems maker Karman went public. Karman’s stock has more than doubled as of Tuesday’s close.
Asset managers Janus Henderson Investors and Wellington Management had separately indicated interest in buying up to $60 million of Voyager’s shares in the IPO.
(Reporting by Prakhar Srivastava and Arasu Kannagi Basil in Bengaluru; Editing by Shinjini Ganguli)
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