Abengoa Yield (ABY) Stock Surges After IPO

NEW YORK (TheStreet) -- Abengoa Yield  (ABY) surged Friday, its first day of trading after its IPO.

The company priced its initial public offering of 24.85 million shares at $29 a share, which values the company at approximately $2.32 billion. The IPO raised $720.6 million after the company priced the upsized offering above the expected range of $25 to $27 a share.

The stock opened at $35.16 on Friday and hit a high of $37 as of 10:37 a.m., by which point more than 10.3 million shares had changed hands.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

ABY Price Chart

ABY Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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