Lululemon Athletica Inc. shares rose 56% in the first day of trading after the yoga-clothing retailer raised $327.6 million in Canada’s largest initial public offering this year. Shares of Lululemon jumped $10 to $28 at 4 pm in trading on the Nasdaq Stock Market, giving the Vancouver-based company a market value of $1.89 billion. Founder Chip Wilson, who is chairman and chief product designer, holds 38 percent of voting shares making his stake worth $717 million today. Maybe Yoga isn’t for sissies? Nice work Chip.
Last modified: October 17, 2008