NEW YORK-AvantGo, a San Mateo, Calif., designer of software permitting handheld computers to access Web content, went public to an enthusiastic reception Sept. 26.
The company priced its 5.5 million share initial public offering at $12 each, $1 above the top of its expected range. Credit Suisse First Boston served as lead manager for the IPO, which closed its first day of trading at $24.25.
Since late August, the share price of handheld computer makers Palm Inc. and Handspring Inc.have risen substantially, rebounding from their spring slump.
“That’s a significant move, and it shows that investors are coming back to wireless,” said Bill Crawford, an analyst with Merrill Lynch.
