Business · Companies · 58 mins ago
Vvardis shares open below the price set for its New York IPO
Swiss dental company Vvardis began trading on the New York Stock Exchange on Friday under the ticker VVVV.
Founded in 2020 by sisters Haley and Goly Abivardi, the Zug-based company focuses on treating tooth decay without drilling.
Its shares opened at $14, below the $18 IPO price, and later rose to $15.29.
Vvardis had initially aimed to sell shares for $21 to $24, and the lower trading price put its market value at about $2.78 billion, below the founders’ original target of up to $4.37 billion.
The IPO raised about $175 million from the sale of around 9.72 million shares, with banks also given an option to sell more.
Vvardis remains loss-making, reporting a $27.8 million loss in the first half of 2026 and $16.3 million in cash outflow from operations.
The company plans to use the new funds to expand, while its founders intend to retain control.
Vvardis shares began trading on the New York Stock Exchange below their $18 IPO price.
The first trade, about three hours after trading began on Friday, was at $14; the shares later recovered to $15.29.
The IPO raised about $175 million for the Zug-based dental company, less than the company had planned.
Founders Haley and Goly Abivardi had originally sought a share price of $21 to $24 and a valuation of up to $4.37 billion.
Vvardis is still recording losses and plans to use the proceeds to expand.
- Who
- Vvardis, founded by sisters Haley and Goly Abivardi.
- What
- Its shares opened below the IPO price in its New York listing.
- When
- Friday; the articles do not state the calendar date of trading.
- Where
- The New York Stock Exchange.
- Why
- Investor demand fell short of the company’s expectations, prompting it to price shares below its planned range. Vvardis said the IPO proceeds would fund expansion.
Investors
Vvardis
IPO pricing
Investors
The shares were priced at $18, below the initially planned range of $21 to $24.
Vvardis
The founders had sought a share price of $21 to $24 and a valuation of up to $4.37 billion.
Business outlook
Investors
The shares’ weak start and the company’s continuing losses reflected investor caution.
Vvardis
The company says its treatment targets early tooth decay and plans to use IPO proceeds for expansion.
Vvardis was founded by Haley and Goly Abivardi.
The company set its share price at $18, below its planned range of $21 to $24.
Vvardis shares began trading in New York; the first trade, about three hours after trading began, was at $14.
The shares later recovered to $15.29.
- IPO price
- $18 per share
- First trade
- $14 per share
- Later observed price
- $15.29 per share
- IPO proceeds
- About $175 million
- Shares issued
- About 9.72 million
- First-half 2026 loss
- $27.8 million
2 sources
What people are saying
We are ending a decades-long period of technological stagnation in the dental market