Infoblox Inc., a network and data-services provider, surged on its first day of trading after pricing its shares above the proposed range in an initial public offering.
The shares, listed on the New York Stock Exchange under the symbol BLOX, climbed 33 percent to $21.30 at the close in New York. Santa Clara, California-based Infoblox raised $120 million in its IPO, selling 7.5 million shares at $16 apiece, the company said in a statement.
Infoblox’s services allow companies to automate certain processes on their computer networks. It counts Barclays Plc, Wells Fargo & Co., Boeing Co., International Business Machines Corp. and the Federal Aviation Administration among its customers, according to a regulatory filing.
The company had proposed selling shares at $12 to $14 apiece, according to a the filing.
Morgan Stanley and Goldman Sachs Group Inc. led the offering.