Dutch Bros Shares Get 59% Debut Boost After $484 Million IPO (1)

Coffee chain Dutch Bros Inc. rose 59% in its trading debut after exceeding goals for its initial public offering to raise $484 million.

Dutch Bros shares closed at $36.68 in New York trading Wednesday, giving the company a market value of about $6.1 billion.

The company, backed by consumer-focused private equity firm TSG Consumer Partners, sold about 21 million shares Tuesday for $23 each, after marketing them for $18 to $20.

“We’re not necessarily a coffee business,” Chief Executive Officer Joth Ricci said in an interview. “We’re a beverage company. We offer a strong base of business across our ...