(Reuters) -Electric aircraft maker Beta Technologies was valued at $7.44 billion after its shares opened flat in their New York Stock Exchange debut on Tuesday, signaling investor caution over a prolonged U.S. government shutdown. After U.S. President Donald Trump’s tariffs scuttled IPOs earlier this year, a triumphant comeback of first-time share sales is now being […]
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Beta Technologies valued at $7.4 billion as shares open flat in NYSE debut
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(Reuters) -Electric aircraft maker Beta Technologies was valued at $7.44 billion after its shares opened flat in their New York Stock Exchange debut on Tuesday, signaling investor caution over a prolonged U.S. government shutdown.
After U.S. President Donald Trump’s tariffs scuttled IPOs earlier this year, a triumphant comeback of first-time share sales is now being tested by a partisan gridlock in Washington.
The Securities and Exchange Commission is operating at skeletal levels with eased restrictions allowing listings to move forward, a move analysts say can alienate investors due to higher risk or insufficient transparency.
The company’s stock opened at $34 apiece, at par with the offer price.
On Monday, Beta sold 29.9 million shares above its marketed range of $27 to $33 apiece to raise $1.01 billion in an upsized IPO, indicating robust investor appetite for cheaper aviation.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Sahal Muhammed)