Online lender OnDeck Capital's shares soar in debut

Reuters News
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Posted: Dec 17, 2014 10:25 AM

(Reuters) - Shares of OnDeck Capital Inc, an online lender to small businesses, rose as much as 37 percent in their debut, valuing the company at up to $1.8 billion.

The company raised $200 million after its initial public offering was priced at $20 per share, well above the expected range of $16-$18.

OnDeck Capital's shares opened at $26.50 on the New York Stock Exchange and touched a high of $27.33.

Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith, JP Morgan Securities and Deutsche Bank Securities are among underwriters to the IPO.

(Reporting by Neha Dimri in Bengaluru; Editing by Saumyadeb Chakrabarty)