Lincoln International's stock surged 12.55% during intraday trading on Wednesday, following its initial public offering on the New York Stock Exchange.

The investment banking advisory firm priced its IPO at $20 per share, raising approximately $421 million. On its debut, the stock opened at $22.51, significantly above the IPO price, indicating strong investor interest in the mid-market focused advisory firm.

The company, founded in 1996, provides advisory services to private capital firms and has over 1,400 staff across 14 countries. The successful IPO and positive market reception contributed to the stock's upward movement.