Israeli router maker
soared 82% in its debut, raising $100 million through 5 million shares at an initial price of $20.
The Tel Aviv-based company, with lead underwriter
, booted up the initial offering price above the expected range of $15-$17.
By midafternoon share were trading at 36 1/2, up 16 1/2.
The Israeli company develops and manufacturers wireless access products for high-speed data transmission used by Internet service providers and private enterprises.
Three companies --
-- together are responsible for almost a third of the company's sales.
Venture capital firm
and its affiliated entities will own 21% of Breezecom after the IPO. Director Benny Hanigal will own 14%.
Other investors include several venture capital funds as well as
Clal Industries & Investments
Warburg Pincus Emerging Growth Fund.