Moelis & Co Shares Rise 9 Percent In Debut

Moelis & Co (NYSE:MC) sold 6.5 million shares in its debut after pricing its IPO at $25 a share and the shares held their gains in early trading.

This marks the first U.S. initial public offering of an investment bank since the financial crisis.

Moelis valued at $1.36 billion

Moelis raised $163 million in its IPO, selling fewer shares below the marketed range. The offering was structured to let Ken Moelis, who founded the firm seven years ago, retain control while still receiving a payout.

The investment bank is valued at $1.36 billion at the IPO price, based on 54.4...