Jul 1st, 2009 - Forbes
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NEW YORK, July 1 (Reuters) - Software maker LogMeIn Inc became the latest technology company to soar in its trading debut on Wednesday, finishing up 25.1 percent the day after its initial public offering.
The Woburn, Massachusetts, company's shares opened at a 25 percent premium over the IPO price, and rose as much as 31 percent on Nasdaq before ending 2 cents above the $20 start price.
LogMeIn, whose backers include chipmaker Intel Corp , sold 6.7 million shares for $16, the top of the estimate range, on Wednesday, raising $106.7 million in the 11th IPO of 2009 in the United States, according to Thomson Reuters. That tally excludes IPOs by real estate investment trusts and blank check companies.
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