(RBRK) starts trading on New York Stock Exchange [Video]

Shares of data management software maker Rubrik jumped in its New York Stock Exchange debut Thursday, the latest sign that public market investors are showing an appetite for tech IPOs. The stock opened at $38.60 per share, after the Microsoft-backed company priced its IPO at $32 a share on Wednesday, above its expected range of $28 to $31 per share.

Rubrik ended trading Thursday up 16% at $37.

In selling 23.5 million shares, it raised $752 million, leaving it with a valuation of $5.6 billion. Rubrik shares are trading under the ticker “RBRK.”

Many technology companies appeared on public markets in the 2010s as central banks kept interest rates low. Worries about a weakening economy starting in late 2021 led investors to become less interested in unprofitable companies. Since then, few young technology companies have been willing to try going public. But that could be changing. Reddit and Astera Labs, which sells data center connectivity chips, …