Updated from 3:45 p.m. EDT
Blue Martini Software
finished up nearly 174% in its trading debut on Tuesday, in a week that is filled with notable companies going public.
The initial public offering of 7.5 million Blue Martini shares was priced at $20 a share, well above the $16 to $18 range, which had already been raised once, from $11 to $13. The $150 million issue finished Tuesday regular trading up 34 25/32 at 54 25/32.
The San Mateo, Calif.-based company develops and sells software for Internet-based business applications, such as e-marketing, e-merchandising and e-service. Its customers include privately held
, the world's No. 1 maker of brand name clothing;
, the largest check printer in the U.S. and
, the only major maker of motorcycles in the U.S.
For the quarter ended March 31, Blue Martini reported a net loss of $11.6 million, or 46 cents a share, compared with a net loss of $1.6 million, or 7 cents a share, a year earlier. It reported revenue of $10.7 million, up 433% from $241,000 the 1999 quarter.
was the lead manager of Blue Martini's IPO, with
Dain Rauscher Wessels
Thomas Weisel Partners
U.S. Bancorp Piper Jaffray
as part of the underwriting team.
Other highly-anticipated offerings this week include:
, a spinoff of conglomerate
and optical networking plays