Pinterest Soars in Debut in 2019’s Second-Biggest U.S. IPO (2)

Pinterest Inc. climbed as much as 33 percent in its trading debut after raising $1.4 billion in the year’s second-biggest U.S. initial public offering, pinning investor hopes on a continuing listing surge.

Shares of the digital-scrapbooking company opened at $23.75. They closed up 28 percent to $24.40 in New York trading Thursday, giving the company a market value of about $12.9 billion.

The listing is second in the U.S. this year only to Lyft Inc.’s $2.34 billion offering in March. Their IPOs will likely be eclipsed by Uber Technologies Inc. The ride-hailing global behemoth will seek to raise about ...