Shares of business software company Qlik Technologies are leaping in their market debut after the company priced its initial public offering above expectations, suggesting strong demand.
The successful IPO helps set a brighter tone for the third quarter IPO market after companies struggled to raise money, or even make it to market, during the volatile second quarter.
Qlik Technologies Inc., based in Radnor, Pa., priced shares of its IPO at $10 each, above the expected range of $8.50 to $9.50. It raised $112 million.
The shares, trading Friday on the Nasdaq Global Market under the symbol "QLIK," are rising $3, or 30 percent, to $13.
© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.