A10 Networks (ATEN) Rises on First Day of Trading (Update)

Update (4:10 p.m.): Updated with Friday market close information.

NEW YORK (TheStreet) -- A10 Networks  (ATEN) popped to a high of $16.50 on Friday, the first day of trading after the tech company's IPO.

The San Jose-based company, which manufactures application delivery controllers, reached the high end of its price range for its IPO, as it raised $187.5 million from selling 12.5 million shares at $15 a share. A10 initially planned to sell its shares in a price range of $13 to $15.


WATCH: A10 Networks Recovers from Slow Open to Trade Higher

A10's revenue rose approximately 55% to $141.7 million between 2011 and 2013. The IPO is part of a bundle of tech IPOs slated for this week and next week that include Q2 Holdings  (QTWO), Paylocity  (PCTY) and King Digital, which makes the popular game Candy Crush. 

More than 12 million shares changed hands on Friday and the stock never dropped below $13. The stock closed up 6% to $15.90.

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ATEN Chart

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