IPO roundup: 6 companies go public Friday
IPO roundup: 6 companies debut on stock market debut Friday; drugmaker Ultragenyx doubles
Six companies made their stock market debuts Friday as the IPO market revs up in 2014. Last year the market for initial public offerings boomed as stock markets rose, with major debuts from hotel owner Hilton Worldwide Holdings Inc., which raised $2.35 billion, and online messaging service Twitter Inc., which raised $2.1 billion.
Here's a look at how the companies that began trading Friday fared:
CARA THERAPEUTICS INC.
The Shelton, Conn.-based company develops drugs to help patients manage pain. The company raised $55 million. It will use the money to conduct clinical trials of its drugs. Its stock, which is listed on the Nasdaq stock exchange under the ticker symbol "CARA," rose $1.91, or 17 percent, to close at $12.91.
INTRAWEST RESORTS HOLDINGS
The mountain resort operator based in Denver raised $187 million. It said it may use its portion of the proceeds to buy ski and adventure travel businesses. Its shares, which are listed on the New York Stock Exchange under the ticker symbol "SNOW," fell 10 cents to $11.90.
MALIBU BOATS INC.
The boat maker, which is based in Loudon, Tenn., raised about $100 million. It plans to use the money it nets to repay debt and for other business purposes. Its shares are listed on the Nasdaq exchange under the ticker symbol "MBUU." They rose $3.75, or 27 percent, to $17.75.
NEW HOME CO.
The California homebuilder, based in Aliso Viejo, Calif., raised about $86 million. It plans to use the money to buy land and build more homes. Its shares are trading on the New York Stock Exchange under the ticker symbol "NWHM." Shares rose $1.20, or 11 percent, to $12.20.
TREVENA INC.
The drugmaker raised nearly $65 million. Based in King of Prussia, Pa., it plans to use the money to develop its drugs. The shares are listed on the Nasdaq exchange under the ticker symbol "TRVN." They fell 50 cents, or 7 percent, to $6.50.
ULTRAGENYX PHARMACEUTICAL INC.
The Novato, Calif., company is working on several possible treatments for rare diseases. It raised about $121 million. It plans to use the money to continue developing its drugs. Its shares are listed on the Nasdaq under the ticker symbol "RARE." Its shares doubled to close up $21.25 at $42.25.
