Shares in high-end coat maker Canada Goose surged on Thursday, after the company made its debut on the New York Stock Exchange.
Investors were cheered by the soaring shares, which were initially priced at $12.78 per share and have since traded at 16.08. The IPO raised $256 million from the share sale, which will go towards paying down debt.
The company, who have recently become famous for their down-filled parka jackets loved by the New York elite, were bought by Bain Capital in 2013. In 2016, Canada Goose said it had revenue of $291 million, with $103 million of that revenue coming from the US.
Their jackets are stocked by several American luxury retailers, including Saks Fifth Avenue and Nordstrom.
However, the IPO was blighted by protestors outside the New York Stock Exchange, who heckled passers by for wearing the Canada Goose jackets. The protest was staged by the People for Ethical Treatment of Animals, who objects to Canada Gooses’ use of coyote fur in its jackets, but plans to buy shares in the company so that it can influence policy through shareholder meetings.
Canada Goose (NYSE:GOOS) shares are currently trading up 25.82 percent at 16.55 (1031GM).