The home decor retailer priced its initial public offering of about 5.2 million shares at $24 per share.
The stock was trading at $31 in morning trading on Friday.
The Corte Madera, Calif., company raised approximately $123.9 million from the offering.
Restoration Hardware Holdings Inc. is offering about 4.8 million shares and the selling stockholders are offering 381,723 shares. The underwriters also have an option to buy up to an additional 774,650 shares from certain selling stockholders.
The stock is trading under the "RH" ticker symbol.
(Copyright 2012 by The Associated Press. All Rights Reserved.)