FormFactor rises 30 percent in IPO debut
Thursday June 12, 1:12 pm ET
biz.yahoo.com
(Repeats to add FormFactor ticker symbol)
NEW YORK, June 12 (Reuters) - Shares of FormFactor Inc. (Nasdaq:FORM - News), a maker of semiconductor testing tools, rose more than 30 percent on Thursday as trading began after an $84 million initial public offering.
Shares of FormFactor rose $4.29, or 30.6 percent, to $18.29 on the Nasdaq stock market in midday trading.
On Wednesday after the close, FormFactor and selling shareholders sold 6 million shares at $14 each, above the expected range of $11 to $13 a share. The Livermore, California-based company sold 5.6 million of the shares, while selling shareholders sold almost 400,000 shares.
FormFactor designs and manufactures semiconductor wafer probe cards that permit advanced tests to speed the semiconductor manufacturing process, according to its IPO filing with the SEC. The company's backers include Intel Corp.(NasdaqNM:INTC - News), the world's largest semiconductor manufacturer. |
