Discount chains Dollar General, rue21 surge in trading debut

Dollar General
Dollar General

Two private equity-owned U.S. retailers, discounter Dollar General Corp (DG) and youth apparel chain rue21 Inc (RUE) rose in their trading debuts on Friday, in performances that will soothe worries that investor appetite for buyout-backed initial public offerings has waned.

Shares of Dollar General rose as much as 10 percent on the New York Stock Exchange, while rue21 leaped as high as 28.4 percent on the Nasdaq, putting it on pace for one of the biggest first-day jumps of an IPO this year.

In afternoon trade, Dollar General shares were quoted for $22.77 or up 8.4 percent, while rue21 was up 28.4 percent, trading at $24.40.