Shares ​of Lincoln International (LCLN.N) gained ‌12.6% in their New York Stock Exchange debut on ​Wednesday, valuing the investment ​bank at about $2.3 billion.

The ⁠Chicago, Illinois-based firm's stock ​opened at $22.51 apiece, above ​the offer price of $20.

Lincoln and selling stockholders sold 21 million shares ​at the top ​of the marketed range of $18 and $20 each ‌to raise $421 ⁠million in the IPO.

Investment bank IPOs in New York have been scarce ​over the ​past ⁠decade or so, with some boutique ​advisory firms choosing to ​sell ⁠themselves before reaching the scale needed to go ⁠public.