Reuters: Global Markets: Five Below shares surge in market debut

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Five Below shares surge in market debut Jul 19th 2012, 15:11 Thu Jul 19, 2012 11:11am EDT (Reuters) - Five Below Inc's (FIVE.O) shares jumped 55 percent in early trading on their market debut, a day after the specialty value retailer priced its initial public offering at the top end of its expected price range. The company, which caters to teen and pre-teen customers, had priced its initial public offering of 9.6 million shares at $17 each on Wednesday. Founded in 2002 by David Schlessinger, founder of retail bookstore chain Encore Books, and former Zany Brainy CEO Tom Vellios, the company sells everything from funky party goods to trendy iPhone cases, all priced at or below $5. Goldman Sachs, Barclays and Jefferies were the lead underwriters to the offering. (Reporting by Arpita Mukherjee and Ranjita Ganesan in Bangalore; Editing by Maju Samuel)

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