Construction software firm Procore Technologies Inc was valued at nearly $11 billion in its market debut on Thursday, after its shares opened 25% above their initial public offering price. Shares of the company, which debuted on the New York Stock Exchange nearly a year after it had first filed to go public, opened at $84 each, compared with its IPO price of $67 each. Procore’s strong debut comes in the backdrop of more recent market struggles, this time due to inflation concerns and cryptocurrency price plunges.
