AOL Owner Bending Spoons Jumps 40% After $1.68 Billion IPO

Bending Spoons SpA shares jumped 40% above their IPO price on debut after the Milan-based company and existing backers raised $1.68 billion in its initial public offering. The owner of AOL and other consumer technology assets is now publicly traded following one of Europe's larger tech listings in recent months.

The company, which has built a portfolio through acquisitions of legacy internet brands and mobile applications, priced its offering to bring in nearly $1.7 billion in proceeds. The strong first-day pop signals investor appetite for tech assets with established user bases, even as broader European equity markets face headwinds.

Bending Spoons has pursued an aggressive M&A strategy, snapping up recognizable names in the digital space. The 40% gain from the IPO price provides an early validation of that acquisition-focused business model, at least in the eyes of public market participants.

The $1.68 billion raise gives the company capital to continue its buyout strategy or strengthen its balance sheet ahead of potential integration costs.