shares surge in market debut-Reuters

(Reuters) – Shares of digital coupon company Inc rose as much as 84 percent in their trading debut on Friday, valuing the company at over $2 billion.

The 16-year-old company raised $168 million from its initial public offering after receiving strong investor interest for its extensive digital promotion platform.

The company, founded by Chief Executive Steven Boal at the peak of the dot-com boom in 1998, priced a more-than-expected 10.5 million shares at $16 each on Thursday, above the company’s planned $12-$14 range. shares were up 78 percent at $28.50 on the New York Stock Exchange. They rose to a high of $29.50 in early trade.

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