ft
Insurance start-up Lemonade shares double after IPO
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Shares in Lemonade, the SoftBank-backed home insurance start-up, more than doubled on their first morning of trading, valuing the company at more than $3bn. The shares were priced at $29 each in the IPO, but by lunchtime in New York had reached more than $60. That places the market capitalisation well beyond the $2bn in reached in a private financing last year.