(RBRK) begins trading on the New York Stock Exchange

In this illustration, the Rubrik, Inc. logo is displayed. On the smartphone screen.

Rafael Henrique | SOPA Photos | Rocket Lite | Getty Images

Data management software maker Rubrik began trading on the New York Stock Exchange on Thursday. It's a closely watched debut that will help investors gauge whether the IPO market has reopened to late-stage startups. It opened at $38.60 per share, 20% above its IPO price.

The Microsoft-backed company on Wednesday priced shares at $32 per share, above the expected range of $28 to $31 per share. By selling 23.5 million shares, the company raised $752 million. This left it worth $5.6 billion. Rubrik shares trade under the symbol “RBRK.”

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