Intel says it will share pay data

Powerbar maker Bellring Brands climbed as much as 14 per cent in its trading debut after raising $480 million in an initial public offering that yielded results at the low-end of its target. The company reached that mark by increasing the number of shares sold while lowering their price.

In what might still be the biggest IPO of the fourth quarter, the Post Holdings spinoff sold about 34.3 million shares for $14 each on Wednesday.

The company had earlier offered 30 million shares for $16 to $19 each.

Bellring’s IPO still fell short of the $570 million it was seeking to raise at the top end of that range. That could portend deepening skepticism among investors, even for companies with strong consumer brands and without aspirations for tech-level valuations.

The shares, which opened at $15.50, were up 13 per cent at to $15.87 at 11.33 am in New York trading Thursday, giving the company a market value of $543 million.

This year ’s swell of tech and tech-related IPOS peaked with Uber Technologies’s $8.1 billion listing in May. Dismal performances by two offerings topping $1 billion in September — Smiledirectclub and Peloton Interactive — combined with the collapse of Wework’s plans to go public have led to a clearing of the listing decks.

The same day as Peloton’s shares began trading and fell 13 per cent, entertainment company Endeavor Group Holdings first scaled back its planned $619 million share sale and then canceled it. On Wednesday, Endeavor officially withdrew its application for an IPO.

Companies including fashion resale platform Poshmark Inc. and food delivery service Postmates could delay offerings until next year, people familiar with their plans have said.

Bellring’s IPO still fell short of the $570 mn it was seeking to raise at the top end of that range