First Posted: 9/20/2013
(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.