Tags: US | Calix | IPO | Mover

Calix Shares Soar in Trading Debut

Wednesday, 24 Mar 2010 10:08 AM

 

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Shares of Calix are soaring in their IPO debut after the broadband communications equipment maker raised $82 million.

Shares are up $3.90, or 30 percent, to $16.90 in early morning trading.

The Petaluma, Calif., company, formerly known as Calix Networks Inc., priced its initial public offering at the top of its expected range Tuesday night.

Gradual improvements in the stock market are helping IPOs after a rocky start to the year, analysts say.

Calix Inc. products enable the delivery of phone, TV and Internet services, primarily through service providers with small networks.

Calix's shares are trading the New York Stock Exchange under the symbol "CALX."

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