Petco Leaps in Trading Debut After IPO Raises $864 Million (2)

Petco Health and Wellness Co. jumped 63% in the animal supply chain store’s return to the market after raising $864 million in an initial public offering.

Shares of Petco closed at $29.40 Thursday in New York trading, giving the San Diego-based company a market value of about $6.4 billion. Petco sold 48 million shares for $18 each on Wednesday after marketing them for $14 to $17.

Petco will continue to be controlled by its largest investors, including private equity firm CVC Capital Partners and Canada Pension Plan Investment Board. They acquired Petco for $4.6 billion from TPG and Leonard ...