University of Phoenix Owner Jumps 19% After $136 Million IPO (1)

Phoenix Education Partners Inc., the owner of the University of Phoenix, climbed 19% after its backers raised $136 million in an initial public offering.

Shares whipsawed in early trading on Thursday and were halted for volatility shortly after opening. The stock closed at $38.15, versus an IPO price of $32 apiece. The offering of 4.25 million shares by Apollo Global Management Inc. and Vistria Group was marketed in a range of $31 to $33 each.

The trading gives Phoenix Education a market value of $1.36 billion based on the outstanding shares listed in its filings with the US ...