July 27, 2018 / 3:16 PM / 23 days ago

Internet browser developer Opera's shares pop in debut

(Reuters) - Web browser developer Opera Ltd’s shares rose as much as 25 pct in their U.S. market debut on Friday, giving the company a market value of about $1.65 billion.

The company’s shares opened at $14.34, about 20 percent above its initial public offering price of $12 per American depositary shares.

Opera, founded in 1995, was originally owned by Norwegian software firm Otello Corp ASA before being bought by a consortium of Chinese investors in 2016.

Reporting by Diptendu Lahiri and Nikhil Subba in Bengaluru; Editing by Maju Samuel

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