Toast, a restaurant software providing firm, has raised $870M on the first day of its initial public offering. The tech firm has sold its share from $34 to $36 and now is at a valuation of almost $20 billion. The firm is also offering additional shares worth 3.2million at the IPO price to sponsors. The IPO will be closing on Friday, and if the pace remains constant, Toast can collect about $869M at the same share price. Investors are now becoming more aware about digitizing the restaurant industry. Thus, investments are flowing into this sector to rev up the offerings.
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