Opera Shares Rise in Opening Day
The Norwegian browser maker's initial public offering piques investors' interest, sending the stock price modestly higher.Shares of Norway-based Opera Software ASA began trading on Thursday on the Oslo Stock Exchange, rising steadily throughout the day to close at 11.40 Norwegian kroner ($1.61) a share. Opera, the Web browser maker that announced plans last month for an initial public offering, said ahead of trading that demand for shares outweighed supply by 20 times. The company issued 12.5 million shares with an opening price of 10 kroner ($1.41) a share. "We are pleased with the interest from investors, especially from abroad," Opera Board Chairman Christian Thommessen said in a statement. "The interest in our IPO and listing is an endorsement from the marketplace that Operas technology is playing a significant role in the evolution of the Internet."
About 83 percent of the subscriptions for shares were from international institutional investors, Opera said. The stock is trading under the symbol "OPERA."
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