By C Nivedita, Abhishek Manikandan and Joshua Franklin
(Reuters) - Snowflake Inc's <SNOW.N> shares more than doubled in their New York Stock Exchange debut on Wednesday, a day after the Warren Buffett-backed data warehouse company raised more than $3 billion in the largest U.S. listing of the year thus far.
Snowflake's spectacular market debut reflects the hearty appetite for new stocks, as low interest rates drive investors into equities.
The market overlooked Snowflake's losses, focusing on the prospects of its software business of data sharing on cloud systems, which has seen rapid growth as offices around the world adapt to remote working.
Snowflake shares started trading at $245 apiece on Wednesday, more than double its $120 IPO price, and closed up 111% at $253.93 to value it at over $70 billion.
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