It priced the offering at $29 a share. In its prospectus, the company said it has experienced more than 50 years of consecutive annual sales growth, culminating in sales north of $20 billion every year since 2021. Medline was also the biggest IPO of the year. The company raised $6.26 billion.

Five members of the Illinois-based Mills family joined the three-comma club on Wednesday, as the nearly 60-year-old medical supplies giant that their fathers founded finally went public.

Its shares opened for trading on Nasdaq at $35 around 1:00 PM ET, a ~21% rise above the initial public offering price, to quickly stand at $37.00 about 10 minutes later, indicating a ~28% jump.

Medical supplies giant Medline said on Monday it was targeting an up to $39.5 billion valuation in its hotly anticipated U.S. initial public offering that is expected to be 2025's biggest IPO.

Medline shares rose 20.7% in their hotly anticipated New York debut today, valuing the medical supply giant at $46 billion in the largest U.S. initial public offering since Rivian’s 2021 listing, capping a strong year for new listings and fueling optimism for 2026.

Medline raises $6.26bn in the year’s biggest IPO, valuing the medical supplies distributor at over $50bn as it looks to cut debt and fuel growth.

Morning Brief host Julie Hyman tracks several of the day's top trending stock tickers, including Warner Bros. Discovery (WBD) urging shareholders to reject Paramount Skydance's (PSKY) bid for the media giant,