Shares of Tilly's Inc. are rising sharply in the clothing retailer's debut on the New York Stock Exchange.
The Irvine, Calif.-based company's stock climbed $3.10, or 20 percent, to $18.60 in morning trading Friday after opening at $18.80 and briefly rising as high as $19.29 per share.
The company had priced its initial public offering of 8 million shares at $15.50.
Tilly's sells surf-inspired and casual West Coast-styled clothing and accessories at its chain of 140 stores in 19 states.
It is offering 7.6 million shares and selling stockholders are offering 400,000 shares.
Tilly's expects to receive net proceeds of about $107.6 million. The company won't receive any proceeds from the sale of shares by the selling stockholders.