Retailer Container Store's shares double in debut

Reuters

Nov 1 (Reuters) - Shares of Container Store Group Inc, which sells products ranging from laundry baskets toluggage, doubled in their market debut, valuing the company atabout $1.63 billion.

The Coppell, Texas-based company raised $225 million afterits initial public offering was priced at $18 per share, the topend of its expected price range. The company sold 12.5 millionshares in the offering.

Container Store's shares opened at $35 and touched a high of$35.87 on the New York Stock Exchange on Friday.

Lead underwriters were J.P. Morgan, Barclays, Credit Suisse,Morgan Stanley, Merrill Lynch Pierce Fenner & Smith, Wells Fargoand Jefferies.

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