WILTON, Conn. -- Investors gobbled up shares of pet food company Blue Buffalo during its public debut Wednesday, according to a story in Forbes.
Wilton-based Blue Buffalo, which makes all-natural cat and dog food, priced its shares at $20 Tuesday evening, but they closed Wednesday at $27.20 after the IPO, according to Forbes.
The shares closed at $26.80 Friday, down almost 5 percent for the day.
In going public, the company raised $677 million, which makes it the year’s fifth-largest IPO, according to Renaissance Capital.
Blue Buffalo, founded in 2002, has been profitable since 2010 and made $30 million on revenue of $248.7 million last year, according to the Forbes story.
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