Renewable energy on rise: Study

June 27, 2013 by  
Filed under Wind Energy Tips

Luxoft shares surge in first day of trading

Shares of Luxoft, which develops and maintains software for businesses, surged in their first day of trading on the New York Stock Exchange.

The stock gained $3.38, or about 20 percent, to close at $20.38 on Wednesday, having risen as high as $21.70.

Luxoft Holding Inc., based in Zug, Switzerland, said the offering of about 4.1 million shares was priced at $17 a share. The IPO raised almost $69.7 million.

For the year ended March 31, Luxoft had net income of $37.5 million on revenue of $314.6 million. The stock is trading under the “LXFT” ticker symbol.

Comments are closed.