(Bloomberg) -- Beyond Meat Inc. went where no company had gone in more than a decade as shares nearly tripled in their first day of trading.
The 163 percent surge for the maker of vegan beef and sausage products was the best debut session of any U.S. listing since at least 2008 among IPOs that raised at least $200 million. Beyond Meat saw its market value balloon to $3.83 billion at the close of trading.
Goldman Sachs, Bank of America Merrill Lynch, Credit Suisse Group AG, Jefferies LLC and JPMorgan Chase & Co. are among the banks that served as underwriters to the El Segundo, California-based company, which is listed on the Nasdaq. The banks have been busy through the start of 2019 with each serving as an underwriter for Lyft Inc. or Uber Technologies Inc.
--With assistance from Brad Olesen.
To contact the reporters on this story: Bailey Lipschultz in New York at blipschultz@bloomberg.net;Drew Singer in New York at dsinger28@bloomberg.net
To contact the editor responsible for this story: Catherine Larkin at clarkin4@bloomberg.net
©2019 Bloomberg L.P.
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