Starent Networks Corp (STAR) Shares Rise on Second Day of Trading
Starent Networks Corp. (Nasdaq: STAR) shares rose 17 percent, or $2.01 today, closing at $14.01. Yesterday the company began trading on the Nasdaq with an initial public offering (IPO) of 10.5 million shares priced at $12 per share, up from an expected offering price between $9 and $11 per share.Of the shares being sold, 9 million are being sold by Starent and 1.5 million by selling stockholders. The company has also granted the underwriters a 30-day option to buy an additional 1.5 million shares of common stock to cover possible over-allotments. Starent sells hardware and software allowing wireless networks to…