the republic logo

IPO Roundup: 3 companies begin trading Thursday; Applied Genetic Technologies rises 29 percent


NEW YORK — A bank, a biotechnology company and a cloud-based payroll processer are rising in their stock market debuts Thursday.

Thursday's initial public offerings come a day after King Digital Entertainment PLC, the maker of popular mobile game "Candy Crush Saga," sank 16 percent in its first day on the market.


The biotechnology company, based in Alachua, Florida, is developing treatments for patients with rare eye diseases. It raised $50 million after offering nearly 4.2 million shares at $12 each — below its prediction of $13 to $15 per share. It plans to use the cash to pay for clinical trials and drug studies. Its stock, which is listed on the Nasdaq stock exchange under the ticker symbol "AGTC," rose $2.76, or 23 percent, to close at $14.76.


The bank, based in Durham, North Carolina, provides financial services to entrepreneurs, startups and to venture capitalist and private equity firms. It raised $104 million after offering nearly 5.8 million shares at $18 each, above its prediction of $15 to $17 per share. It plans to use the money raised to for general corporate purposes. Its stock is trading on the Nasdaq stock market under the ticker symbol "SQBK." The stock rose $2.60, or 14 percent, to $20.60.


The San Leandro, California-based company offers cloud-based payroll processing and other human resources services for small- and medium-sized businesses. TriNet raised $240 million after offering 15 million shares at $16 each, the middle of its expected range. It plans to use the money to pay off debt. Its stock, which is trading on the New York Stock Exchange under the ticker symbol "TNET," rose $3.10, or 19 percent, to $19.10.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.