(Bloomberg) -- Core & Main Inc., a distributor of products such as water pipes and fire sprinklers, rose 19% after raising $698 million in an initial public offering priced at the bottom of a marketed range.

The St. Louis-based company’s shares, which sold for $20 in the IPO, closed at $23.70 Friday. The company sold almost 35 million shares on Thursday after marketing them for $20 to $23.

The IPO is the second-biggest this week out of 30 pricing or still pending on U.S. exchanges. Those listings have raised about $6.4 billion in total, according to data compiled by Bloomberg.

The largest IPO of the week was the $1.34 offering by insurance company Ryan Specialty Group Holdings Inc., which rose 17% on its first day of trading Thursday.

The showing by Core & Main topped those in some other debuts Friday.

Caribou Biosciences Inc. rose 2% in its debut after increasing the size of its IPO priced at the top of a marketed range to raise $304 million. Xponential Fitness Inc. climbed 2.1% after its IPO fell short of the fundraising goal. Shares of digital ad platform Outbrain Inc., which priced below a marketed range at $20, closed Friday unchanged from that price.

Core & Main is backed by private equity firm Clayton, Dubilier & Rice, whose affiliates will control about 80% of the shareholder voting power after the listing, according to the company’s filings with the U.S. Securities and Exchange Commission.

Core & Main’s specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure.

For the three months ended May 2, Core & Main said it had pro forma net income attributable to the company of $26 million on net sales of more than $1 billion.

The offering was led by Goldman Sachs Group Inc., Credit Suisse Group AG and JPMorgan Chase & Co. The shares are trading on the New York Stock Exchange under the ticker symbol CNM.

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