U.S. News

Infinera IPO Jumps 47% in Market Debut


Shares of Infinera rose 47% in their market debut Thursday, a day after raising $182 million in an initial public offering.

Infinera, which builds chips for equipment used to run on massive telecommunications networks, opened 23% higher at $16.04 before hitting $20.15, up 55%, in trading on Nasdaq.

The offering of 14 million shares sold for $13 a share on Tuesday, compared with a $10-to-$12 forecast range.

Underwriters were led by Goldman Sachs. Infinera has built a new class of all-optical computer chip using light rather than electronics to transmit data.