May 9, 2013 / 2:15 PM / 7 years ago

Cyan Inc shares open below IPO price

May 9 (Reuters) - Shares of network operator Cyan Inc opened down 9 percent in their market debut, valuing the company at about $448 million.

The company’s shares opened at $10.05 on the New York Stock Exchange on Thursday.

The Petaluma, California-based company priced 8 million shares offering at $11 each, the mid-point of its planned price range.

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