NEW YORK, Dec 14 (Reuters) - Telecommunications company Intellon Corp ITLN.O soared in its market debut on Friday, a day after an initial public offering that priced at the bottom of expectations.
Its shares were up 30 percent at $7.84 in early trading.
On Thursday, Ocala, Florida-based Intellon’s 7.5 million share offering sold for $6 a share, compared with an expected range of $6 to $7, according to an underwriter.
Earlier on Thursday, the company cut the expected price range from a previous $9 to $11 per share, according to a regulatory filing.
Underwriters, led by Deutsche Bank Securities, have an option to purchase an additional 1.1 million shares. (Reporting by Lilla Zuill; editing by John Wallace)