(Reuters) – Partners Group-backed KinderCare Learning Companies notched a market valuation of about $3.1 billion after its shares opened 12.5% above its initial public offering price on its NYSE debut on Wednesday.
KinderCare’s shares opened at $27, after the firm had priced its offering at $24 apiece to raise $576 million.
The demand for childcare services in the United States is rising due to firms implementing return-to-office protocols following the pandemic and an increased participation rate of women in the workforce.
KinderCare is one of the largest private providers of early childhood education in the U.S. by center capacity.
(Reporting by Vedant Vinayak Vichare and Jaiveer Shekhawat in Bengaluru; Editing by Vijay Kishore and Krishna Chandra Eluri)
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