Shares of Voxeljet AG are surging after the 3-D printing company raised $84.5 million in its initial public offering.

Voxeljet's 3-D printers are used by the automotive, aerospace, film, engineering and consumer industries.

The company priced 6.5 million American depositary receipts at $13 per ADR. The stock is trading on the New York Stock Exchange under the ticker symbol "VJET."

In morning trading, its shares are up $12.71, or 98 percent, to $25.71 after rising as high as $27 earlier..

Voxeljet expects to use the money raised to expand its service center in Europe and open new service centers in North America and Asia. The company is based in Friedberg, Germany.