In the second direct stock listing of the week, eyewear retailer Warby Parker Inc. opened trading at $54.05 a share and held steady, fluctuating barely a dollar from that price. AdvertisementWarby Parker’s debut comes on the heels of data analytics firm Amplitude Inc. rising 9.6% in its direct listing Tuesday. Warby Parker counts Tiger Global Management, T. Rowe Price, General Catalyst, D1 Capital Partners and Durable Capital among its largest investors, according to its filings. Warby Parker is a public benefit corporation, giving it a mandate to focus on more than maximizing shareholder returns. Although banks don’t underwrite shares in a direct listing as they do in an IPO, Goldman Sachs Group Inc., Morgan Stanley and Allen & Co. have been advising Warby Parker on its listing.

Source: Los Angeles Times September 29, 2021 20:15 UTC