Shares of Rally Software Development Corp. (RALY) surged in their trading debut on the New York Stock Exchange following the company's initial public offering.
The Boulder, Colorado- based company priced its initial public offering of 6.00 million shares of its common stock at a price to the public of $14.00 per share. The company has also granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock.
Rally Software shares are currently trading at $18.12 after trading as high as $18.38 earlier in the session.
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