Microsoft-backed Rubrik’s stock jumps nearly 21% in NYSE debut

Rubrik’s shares rose nearly 21 per cent in their debut on the Unusual York Stock Replace on Thursday, giving the Microsoft-backed cybersecurity company a valuation of $6.77 billion.

The startup joins a checklist of corporations that possess considered solid debuts recently as preliminary public choices soar serve on hopes of a soft touchdown for the financial system, where inflation falls without a recession or gargantuan job losses.

Rubrik raised $752 million in its upsized IPO promoting 23.5 million shares at $32 every, above the $28 to $31 range it had marketed earlier.

The company’s IPO became underwritten by a syndicate of more than a dozen banks including Goldman Sachs, Barclays, Citigroup and Wells Fargo Securities.