Responsys up more than 31 pct in 1st trading day

AP News
|
Posted: Apr 21, 2011 11:57 AM
Responsys up more than 31 pct in 1st trading day

Responsys Inc.'s stock jumped more than 31 percent in its first day of trading on the Nasdaq Global Select Market.

The marketing software maker's initial public offering of about 6.6 million shares was priced at $12 per share, raising $79.2 million. That easily topped the $60 million that the San Bruno, Calif., company said it had hoped to raise back in December.

About 1.1 million of those shares had been held by early investors in the company. Underwriters were given an option to buy up to an additional 967,948 shares from Responsys and up to an additional 25,000 from a selling stockholder to cover excess demand.

Responsys added $3.75, or 31.3 percent, to $15.75 in midday trading on Thursday.

The stock is trading under the "MKTG" ticker symbol.