Pattern Group Shares Rise 12% After Firm’s $300 Million IPO (1)

Pattern Group Inc., an e-commerce firm that resells goods on marketplaces such as Amazon.com Inc., reversed an early slump to gain 12% in its inaugural trading day, after the company and some of its investors raised $300 million in an initial public offering.

Shares in the Lehi, Utah-based company closed Friday at $15.63 apiece in New York, above the IPO price of $14, compared to a marketed range of $13 to $15. The trading gives the company a market value of about $2.75 billion, based on the outstanding shares.

The company ranks second in the US on Amazon’s ...