Five companies ranging from a drugmaker and a financier to technology providers made their trading debuts Friday, led by A10 Networks, which brought in the day's top total of $187.5 million through its initial public offering.
Others included drug developer Versartis, software maker Amber Road, lender TPG Specialty Finance and e-commerce platform maker Borderfree. All five were trading higher by midday.
A sixth company, Globoforce Group PLC, had been expected to go public Friday, but the Irish software maker withdrew the proposed offering, saying it would wait until market conditions were more favorable for itself and its customers.
A10 Networks makes software-based applications that optimize data center performance. The company will get $135 million in gross proceeds from the IPO with the rest going to stockholders who are selling their shares. The company's IPO of 12.5 million shares priced at $15 per share, at the high end of A10's estimates.
Its shares rose $1.12, or 7.5%, to $16.12 in midday trading in the New York Stock Exchange under the symbol "ATEN."
The IPO of the biotech drugmaker Versartis brought in $126 million. Its offering of 6 million shares priced at $21 a share. That was at the high end of expectations.
Versartis is studying long-acting treatments for growth hormone deficiency. Its shares jumped $13, or 62%, to $34 on the Nasdaq Global Select Market. They are trading under the ticker symbol "VSAR."
TPG Specialty Lending brought in $112 million with its IPO. The specialty finance company is selling 7 million shares for $16 each, and that price was at the low end of its estimates. The stock rose $0.11 to $16.11 in midday trading under the symbol "TSLX" on the NYSE.
The IPO of cloud-based global trade management software maker Amber Road priced above expectations, raising $96.2 million. The IPO consisted of 7.4 million shares offered at $13 per share. Amber Road will get $62.2 million of those proceeds with the rest going to selling shareholders. The stock surged $4.36, or 33.5%, to $17.36 on the NYSE where it trades under the symbol "AMBR."
Borderfree's IPO brought in $80 million. The offering of 5 million shares priced above expectations at $16 a share. Borderfree provides an e-commerce platform that U.S. retailers can use to market and sell to customers worldwide. Its shares rose $3.36, or 21%, to $19.35 on the Nasdaq. They trade under the ticker symbol "BRDR."
Globoforce had said it would raise $57 million from its IPO by selling more than 3.8 million shares priced between $14 per share and $15 per share, according to a regulatory filing. The company has headquarters in Dublin and Southborough, Mass., and it makes software for employers that help them recognize and reward employees for their work.