Optical Communication Products
rose sharply today after its initial public offering of 10.5 million shares was priced at $11 each.
The shares have traded as high as $20.50 on the initial day of trading, and were recently up 66.5% to $18.38. UBS Warburg led the offering.
The company makes fiber-optic subsystems and modules for high-speed data transmission. For the nine months ended June 30, Optical posted income of $16.7 million, or 16 cents a share, on revenue of $69.1 million.