Updated from 10:33 a.m. to include closing price and share volume in the fourth paragraph.
Fitbit, which makes fitness wearable devices including the Fitbit Surge smartwatch, saw its shares open for trading on Thursday at $30.40, good for a 52% gain, which valued the company at $6.2 billion. The valuation makes Fitbit one of the most valuable consumer technologies in the world.
Demand for the IPO was strong, with Fitbit raising $732 million, higher than initially expected. Fitbit sold some of its existing investors 36.6 million shares for $20 a share, up from its initial offering of 34.5 million shares of $17 to $19 a share. Fitbit initially said it expected to sell its shares between $14 and $16.
Shares of Fitbit closed the regular session at $29.68, good for a 48.4% gain over its $20 initial offering price, valuing the company at $6.08 billion. More than 50 million shares exchanged hands on its first day of trading.
At $20 a share, Fitbit was valued at $4.1 billion.
San Francisco-based Fitbit is one of the more financially sound technology companies to go public recently. In 2014, the company ended the year with $745.4 million in revenue, generating net income of $131.8 million with adjusted EBITDA of $191 million. That's a significant improvement over 2013, when it earned $79 million on $271.1 million in revenue.
In total, the company has seven devices -- Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Fitbit Aria, a "Wi-Fi connected scale that tracks weight, body fat percentage, and BMI."