IPOs show mixed results in trading Friday

Published on NewsOK Modified: February 7, 2014 at 1:52 pm •  Published: February 7, 2014
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Companies that held their initial public offerings on Friday showed mixed results in their first day of trading.

Shares of GeoPark Ltd., a Latin American oil and gas exploration company, plunged in its debut on the New York Stock Exchange.

Its shares fell 60 cents, or 8.6 percent, to $6.40 in afternoon trading Friday after sinking as low $6.11 earlier in the day. It trades under the symbol "GPRK."

The Chilean company raised $94.5 million in its offering of 13.5 million shares at $7 per share. It has also granted underwriters the option to buy up to 800,000 additional shares.

GeoPark's IPO was smaller than its earlier plans of offering 20 million shares priced between $8 and $10.

Meanwhile, shares of Argos Therapeutics Inc., a pharmaceutical company, soared in its debut on the Nasdaq stock market.

Its shares rose 75 cents, or 9.4 percent, to $8.75 in afternoon trading after rising as high as $9.91 earlier in the day. Argos shares trade under the ticker symbol "ARGS."

The Durham, N.C.-based maker of treatments for cancer and infectious diseases raised $45 million in its offering of 5.6 million shares at $8 each. It has also granted underwriters the option to buy up to 843,750 additional shares.