A123 shares up 36 pct after stock debut on Nasdaq
Newly issued shares of battery maker A123 jump 36 pct after stock's first appearance on Nasdaq
- On 11:20 am EDT, Thursday September 24, 2009
NEW YORK (AP) -- Shares of battery maker A123 Systems are surging 36 percent this morning with its initial public offering on Nasdaq.
Investors have high hopes that the company will be a leader in lithium-ion battery technology for the auto industry.
A123 Systems Inc. shares climbed $4.87, or 36 percent, to $18.37 in Thursday morning trading.
Before the market opened, the Watertown, Mass.-based company raised its initial public offering to 28.1 million shares, priced at $13.50 per share.
That's up 2.4 million shares from a filing from Tuesday, when the company estimated the initial public offering price to be between $10 and $11.50 per share.
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