Staktek Holdings Surges in IPO Debut
Staktek Holdings
(STAK)
surged 17% from its offer price Friday, as the computer devices maker joined a largely positive run of IPO debuts this week.
Recently, shares were up $2.23, or 17.1%, to $15.23, well above the offer price of $13 a share.
The Austin, Texas-based company sold 10 million shares, valuing the offer at $130 million. The IPO priced at the high end of its $11 to $13 a share range.
The company, which has 400 employees and makes high-density stacking units for computers, is profitable.
The deal's underwriters are Morgan Stanley, Merrill Lynch, Thomas Weisel and Wachovia Securities.
Twelve IPOs hit the market this week -- four of them today -- making it one of the busiest weeks in recent years, with the majority of them posting solid gains in their debuts.