NEW YORK (AP) — 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 Inc. 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 percent, to $16.12 in midday trading in the New York Stock Exchange under the symbol "ATEN."
The IPO of the biotech drugmaker Versartis Inc. 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 percent, to $34 on the Nasdaq Global Select Market. They are trading under the ticker symbol "VSAR."
TPG Specialty Lending Inc. 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 11 cents to $16.11 in midday trading under the symbol "TSLX" on the NYSE.