Shares of database-software company MongoDB Inc. soared 35% in their first minutes of trading Thursday, in the latest tech initial public offering to score early gains. The company priced its IPO at $24 a share late Wednesday, $2 higher than the top of the price range it had already inflated just the day before. The company originally targeted an IPO price in a range of $18 to $20, and increased that target to $20 to $22 Tuesday. The company sold 8 million shares to raise $192 million, and give it a valuation of over $1 billion, ensuring it retains its ‘unicorn’ status. Underwriters, led by Morgan Stanley, Goldman Sachs and Barclays, have access to an additional 1.2 million shares. MongoDB is trading on Nasdaq under the ticker symbol “MDB.” The S&P 500 was last down 0.3%.
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