Reformation stock closes 8 cents above IPO price in muted market debut

Shares of Reformation Inc. opened flat on Thursday after making their public debut on the New York Stock Exchange (NYSE). The women’s clothing retailer, backed by private equity firm Permira, saw its stock remain at roughly $15, the same price of its initial public offering per share. Shares were priced late Wednesday at the low end of their projected range. Reformation offered 14.1 million shares, with an IPO raise of $210.9 million. The stock closed at $15.08 at the end of its first trad...