Vivint Solar Shares Rise 9% in Debut

Shares of Vivint Solar Inc, the second-largest installer of residential solar panels in the United States, rose as much as 9 percent in their market debut on the New York Stock Exchange, valuing the company at about $1.84 billion.

Vivint raised about $330 million after it sold all 20.6 million shares offered at $16 per share, the low end of the expected range of $16-$18.

Blackstone Group LP, which owned 97 percent of Vivint before the IPO, did not sell any shares but its stake was diluted to 78.2 percent.

The shares hit a high of $17.47 before slipping back to $16.60 about 10 minutes after the start of trade. (Reporting by Amrutha Gayathri and Swetha Gopinath; Editing by Ted Kerr)