GFL Environmental shares drop in U.S. market debut

(Reuters) – Shares of GFL Environmental Holdings Inc on Tuesday fell nearly 8% in their debut on the New York Stock Exchange, after the company raised about $1.43 billion in its initial public offering.

GFL’s shares opened at $17.5, giving the waste management company a valuation of $5.81 billion.

The Canadian waste management company on Monday priced its IPO at $19 each, below its range of $20 to $21 per share.

(Reporting by C Nivedita in Bengaluru; Editing by Shailesh Kuber)