The Globe and Mail reports in its Thursday edition that social-media platform Reddit priced its initial public offering at the top of its targeted range of $31 to $34 per share on Wednesday, raising $748-million and giving the ailing technology IPO market a much-needed boost (all figures U.S.). A Reuters dispatch to The Globe says the IPO priced 22 million shares sold by the company and its existing shareholders at $34 a share, giving Reddit a valuation of about $6.4-billion. Excluding the shares sold by existing shareholders, Reddit raised gross proceeds of $519.4-million. Pricing the IPO at the top of the range is a vindication of the company's decision to lower its valuation expectations after it was valued at $10-billion in a private fundraising round in 2021. The successful offerings of Reddit and Astera Labs could boost the lacklustre tech IPO market after two years of largely subdued activity. Earlier this year, BrightSpring and Amer Sports received a lukewarm reception from investors. Reddit's shares are expected to start trading on the New York Stock Exchange today under the ticker RDDT. Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America Securities are the lead underwriters for the offering.