“Zoetis Inc.’s ZTS 0.00% stock rose in its public-trading debut, as investors jumped at the opportunity to invest in Pfizer Inc.’s PFE +1.65% animal-medicine unit and at the largest U.S. offering since the initial public offering of Facebook Inc. FB -2.39%
Shares opened at $31.50 on the New York Stock Exchange, up 21% from the $26 offer price, and traded recently at $30.65.
Late Thursday, Zoetis priced shares in its $2.2 billion IPO above the $22-to-$25 range initially outlined in documents filed with the Securities and Exchange Commission. Zoetis commands a market value of about $13 billion based on the offer price….”
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