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NEW YORK (
NeoPhotonics(NPTN - Get Report) shares have skyrocketed since its debut on the New York Stock Exchange two days ago.
Shares of NeoPhotonics have surged 20.4% to $16.85 during early-afternoon trading Friday.
The current price is about 53.2% above NeoPhotonics' $11 a share offering price on 7.5 million shares of common stock.
The San-Jose, Calif.-based maker and designer of components for high-speed communications networks originally planned to raise about $82.5 million from the IPO. All shares were sold by the company.
Previously, the company had planned to sell 7 million shares of common stock for $9 to $11 a share.
Bank of America(BAC - Get Report) Merrill Lynch and
Deutsche Bank(DB - Get Report) Securities were the lead underwriters.
Piper Jaffray(PJC - Get Report),
Regions Financial 's (RF - Get Report) Morgan Keegan & Company and
ThinkEquity were co-managers for the offering.