FireEye stock more than doubles in Nasdaq debutSeptember 20, 2013 @ 8:40 am
NEW YORK (AP) - Shares of FireEye more than doubled in their first day of trading on the Nasdaq Global Select Market.
The technology company's stock surged as high as $44.85 in Friday trading, before paring back to $23.40, or 117 percent, to $43.40 at midday.
FireEye Inc. priced the initial public offering of approximately 15.2 million shares at $20 each. In a regulatory filing, the company initially planned to offer 14 million shares priced between $15 and $17 per share.
The company, which helps businesses and governments protect themselves from cyber attacks, raised about $304 million from the offering.
FireEye is giving the underwriters a 30-day option to buy up to an additional 2.3 million shares to cover any excess demand.
The shares are trading under the "FEYE" ticker symbol.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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