Marimba stormed onto the financial markets on Friday with an initial public offering (IPO) of four million shares, priced at $20 each, valuing the share placement at $800 million.
The company, once known for now unfashionable Internet push technology, is now using the same Castanet software to help firms distribute and update information on their intranets and extranets and the Internet.
Marimba?s stock debuted at 59 and rose to a high of 66 1/2 in early trading, closing up 204 per cent at 60 3/4. The price range was raised to between $16-18 per share from $13 to $15 per share and of the four million shares being offered, 3.5 million were sold by the company and 452,000 by investors.
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