Shares of Aquantia Corp. edged higher in their public debut Friday, as the opening price of $9.31 was 3.4% above the initial public offering price of $9. The maker of high-speed communications integrated circuits for Ethernet connections’ IPO priced below the previously expected per-share range of $10 to $12. The stock was recently up 2.8% at $9.25, and has traded in a range of $9.05 to $9.40 since the open. The company raised $59.6 million in the IPO, before options granted to underwriters. The bookrunners for the IPO were Morgan Stanley, Barclays Capital and Deutsche Bank. Aquantia’s IPO comes at a time when the Renaissance IPO ETF has gained 8.2% over the past three months and the S&P 500 has tacked on 4.4%.
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