Petco valued at over $5B after Nasdaq debut

Shares of Petco rose in their market debut on Thursday, giving the pet retailer a market capitalization of $5.69 billion. The company’s shares opened at $26, 44.4 percent above its initial public offering (IPO) price of $18 per share. Petco offered 48 million shares and raised $864 million in its IPO. Petco’s debut comes in a week that…