Mission Produce shares soar 18% as trading begins

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Mission Produce Inc. shares jumped 18.8% after trading began Thursday at 12:15 pm ET. The avocado company priced at $12 on Wednesday, below the price range between $15 to $17. Mission Produce also downsized its IPO, offering 8 million shares, down from 9,375,000 shares previously. Mission Produce is trading under the ticker “AVO” on the Nasdaq. BofA Securities, JPMorgan and Citigroup were the active bookrunners. Proceeds from the IPO will be used for general corporate purposes and working capital. The California-based company has packing facilities in the U.S., Mexico and Peru and 11 distribution and ripening centers around the world.

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