Shares in women’s online community iVillage Inc, were given the red carpet treatment on the Nasdaq Friday, closing the day at $80.125 – representing a gain of $56.125, or 234%, over the final offering price of $24. The New York-based company sold 3.65 million shares, making $87.6m before expenses. The shares, which had been upped from a previous range of $12-$14, traded as high as $100 in the session. Volume was 7.6 million shares as IVIL easily became the most advanced issue of the day. iVillage says it lost $43.7m last year on revenue of $15m.
Meanwhile, online discount travel service Cheap Tickets Inc sold 3.5 million shares at $15 and watched them close the day at $31.25, up 108%, after having reached $39. Volume was 6.6 million shares and the stock placed second behind iVillage on the most advanced list. The Honolulu, Hawaii-based company, which had net income last year of $1.1m on revenue of $11.3m, raised $51.7m after expenses.
