optionsXpress Surges After IPO
The online broker's shares rise 22% on their first day.
Online brokerage
optionsXpress
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surged 22% on its first day of trading, following last night's pricing of its $198 million initial public offering.
Shares of the Chicago-based company jumped $3.64 to $20.14 Thursday, a day after it priced 12 million shares at $16.50 apiece via Goldman Sachs and Merrill Lynch.
The company sold 5 million of the shares, raising $82.5 million, and insiders sold 7 million.