Reuters: Global Markets: Vocera Communications shares soar on debut

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Vocera Communications shares soar on debut Mar 28th 2012, 15:03 Wed Mar 28, 2012 11:03am EDT (Reuters) - Vocera Communications Inc's (VCRA.N) shares soared 50 percent on their market debut, after the healthware communications provider priced its offering above the expected price range. Vocera follows other companies that made an impressive debut on Wednesday. While organic food maker Annie's Inc (BNNY.N) shares rose 75 percent, those of consumer finance company Regional Management Inc (RM.N) went up 18 percent. At its opening price of $24, Vocera is valued at around $521 million. On Tuesday, the San Jose, California-based company priced its offering of 5.9 million shares at $16 per share. It had earlier expected the IPO to be priced at $12-$14 apiece. The company, which expects to use part of the IPO proceeds to repay debt, posted a net loss of $2.5 million on revenue of $79.5 million in 2011, according to a regulatory filing. J.P. Morgan and Piper Jaffray were lead underwriters to the IPO. Shares of the company were up 40 percent at $22.28 in morning trade on the New York Stock Exchange. Nearly 3.6 million shares changed hands by 1055 ET, making the stock the second most-traded on the exchange.

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