Rental Firm EquipmentShare Jumps 33% After $747 Million IPO (1)

EquipmentShare.com Inc. shares rose 33% in their first day of trading after the company raised $747.3 million in its US initial public offering.

The stock closed at $32.56 per share, compared to an IPO price of $24.50. The firm, which rents and sells equipment and technology to the construction industry, sold 30.5 million shares after pricing them at the midpoint of a marketed range of $23.50 to $25.50 apiece.

The trading gives the company a market value of $8.18 billion, based on the number of shares listed in its filings.

Founded in 2015, the company offers a cloud-based platform ...