SelectQuote Delivers Largest IPO Since February

The largest U.S. initial public offering since February did not belong to some ride-sharing service or a new biotech firm working on a coronavirus vaccine, but rather to a decades-old insurance industry company.

SelectQuote (NYSE: SLQT), a platform that connects consumers to insurance carriers, issued 18 million shares of common stock earlier this week, and previous shareholders sold 10.5 million shares. The stock began trading Thursday at $20 and had risen by 31.5% to around $26.30 as of noon EDT Friday.

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