was enjoying solid gains on its first day of trading, as the company's shares rose sharply above their initial public offering price.
Lately, shares of InterVideo were climbing $5.69, or 41%, to $19.69 on the
After the close Wednesday, InterVideo priced an IPO of 2.8 million shares at $14 each. SG Cowen was the lead underwriter for the offering, which raised $39.2 million for InterVideo.
Demand was strong for the new shares. The expected range had been $11 to $13 and 500,000 were added on this week to the offering. InterVideo is based in Fremont, Calif. The company makes the WinDVD software that's found on many home PCs.
InterVideo's debut continues a string of strong openings by new issues recently. Just last week,
Digital Theater Systems
, a provider of technology for DVD players, home theaters and movie theaters, completed its initial public offering and rose 47% on its first day of trading.