NEW YORK (AP) – Shares of three companies that debuted in trading Thursday boasted strong performances, and business information publisher Dolan Media stole the show as its shares surged 22 percent.
Shares of the Minneapolis, Minn.-based company opened at $16.40 after pricing at $14.50. The company had expected the offering to price between $13.50 and $15.50 per share. Shares rose $3.22, or 22 percent, to close at $17.72. Earlier in the session, shares hit a low of $16.01 and a high of $18.25.
Shares of Genpact Ltd., a former unit of General Electric Co. that provides offshore business services, priced at $14 and gained modestly during morning trading. But they rose steadily in afternoon trading, gaining $2.75, or 20 percent, to close at $16.75. Shares hit a low of $13.63 and a high of $17.10 earlier in the session. The Hamilton, Bermuda-based company had expected the offering of 35.3 million shares to price between $16 and $18 per share.
Shares of Sucampo Pharmaceuticals, the Bethesda, Md.-based drug developer, opened at the offer price of $11.50. Shares rose 76 cents, or 7 percent, to close at $12.26. Shares traded between a low of $11.49 and a high of $12.62.