Blackstone-Backed Liftoff Rises 24% After $437 Million IPO (2)

Liftoff Mobile Inc. shares climbed 24% in their debut after raising $437 million in a US initial public offering, in the company’s second attempt at going public this year.

Shares in the Blackstone Inc.-backed company, which filed for an IPO just three months after withdrawing a previous registration, closed Thursday at $28.45 each versus the $23 IPO price. Liftoff sold 19 million shares in the first-time share sale after having marketed them for $20 to $22 each.

The trading gives Liftoff, which helps place ads within mobile applications, a market value of $4.74 billion based on the outstanding shares ...