NeoPhotonics (NYSE:NPTN) Shares Soar on Opening Day of IPO

Shares of NeoPhotonics (NYSE:NPTN) opened with a bang on the New York Stock Exchange, after the company priced shares at the high-end of the proposed price range at $11 a share.

NeoPhotonics business selling circuits to tech giants like Cisco Systems Inc. (Nasdaq:CSCO) and Alcatel-Lucent SA (NYSE:ALU). The chips they sale are used by the companies to make networking gear.

Sales from the company are expected to grow on the increasing demand for online video.

Shares were originally offered in the range of $9 to $11, but were bumped up to $11 a share, and the number of shares offered were increased from 7 million to 7.5 million.

Neophotonics was trading at $14.02 as of 12:33 PM EST.