(Reuters) -Alliance Laundry Systems was valued at nearly $4.83 billion after its shares jumped 11.4% in their New York debut on Thursday, making the commercial laundry machine maker the latest to capitalize on a buoyant listings market.

Shares of the Ripon, Wisconsin-based Alliance opened at $24.5 apiece, above the issue price of $22.

Alliance and some of its existing shareholders sold 34.1 million shares in an initial public offering on Wednesday, at the top of its target range of $19 to $22 apiece.

U.S. IPO activity has picked up after a slowdown earlier this year, with companies moving to tap investor appetite as concerns over President Donald Trump's trade policies ease.

Companies such as Swedish fintech firm Klarna ( KLAR ) and online ticketing marketplace StubHub tested the public markets with their hotly anticipated debuts last month.