StubHub rises in debut after mid-range IPO pricing

Ticket-selling platform StubHub STUB.N riises in its NYSE debut on Weds after long-awaited IPO priced within expectations

STUB opens at $25.35 vs $23.50 IPO price. Stock last up 10.4% at $25.95 in early trade

New York-based STUB late Tues said it sold about 34 mln shares in middle of $22-$25 range for total raise of $800 mln

Led by co-founder Eric Baker, STUB achieved a valuation of roughly $8.6 bln at the IPO price

This as the IPO market is continuing a strong comeback after the Labor Day holiday

STUB had eyed going public since at least 2022, first via a direct listing, and then paused its IPO plans in Apr as tariff-driven volatility shut down the new listings market

The IPO comes as Live Nation's LYV.N Ticketmaster was being probed by U.S. regulators over whether it’s done enough to keep bots from illegally reselling tickets on its platform, Bloomberg News reported on Mon

JP Morgan and Goldman Sachs leading a 14-firm underwriting syndicate for STUB's IPO. (Click here for the offering prospectus)