November 17, 2024 4:27 am
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Arizona’s newest stock marks first day with price gain

header-logoBy Russ Wiles | The Republic | azcentral.

Arizona’s newest public corporation got a warm welcome from Wall Street on its first day of trading.

Store Capital, a Scottsdale company headed by a veteran management team, started trading Tuesday following an initial public offering in which it sold 27.5 million shares at $18.50 each, raising nearly $500 million.

The stock moved higher after that, closing up $1 a share at $19.50. Nearly 10 million shares changed hands, making Store among the day’s most active issues.

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