IPO

Demandware stock jumps 51 percent after IPO

AP News
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Posted: Mar 15, 2012 10:35 AM
Demandware stock jumps 51 percent after IPO

Shares of Demandware Inc. are surging in the company's first day of public trading.

The company's initial public offering priced above expectations at $16 per share Wednesday, and shares jumped $8.23, or 51 percent, to $24.23 in morning trading while the broader markets were mixed.

Demandware, based in Burlington, Mass., provides an on-demand e-commerce platform for large retailers and brands. It sold 5.5 million shares in its IPO and expected the stock to price between $12.50 and $14.50 per share.