Defense Parts Firm Arxis Shares Jump After $1.13 Billion IPO

Arxis Inc. shares surged 38% in the company’s trading debut after it raised $1.13 billion in an upsized initial public offering.

Shares of the Arcline Investment Management-backed company, which makes electronic and mechanical parts for aerospace and defense firms, closed up at $38.75 on Thursday, above its IPO price of $28.