Shares in Ruckus Wireless began trading for the first time(NYSE: RKUS). The company priced an initial public offering of 8,400,000 shares at $15.00 per share.
Trading closed on Friday at $12.25, down 18% for the day.
Ruckus Wireless, which is based in Sunnyvale, California, markets and manufactures a wide range of indoor and outdoor “Smart Wi-Fi” products for mobile operators, broadband service providers and corporate enterprises. The company is headed by Selina Lo, who is previously known for her work with Alteon WebSystems and Centillion Networks.
Ruckus Wireless began operarations in 2004 and received funding from Sequoia, Sutter Hill, Investor AB, Motorola Ventures, T-Ventures, Telus, Firelake Capital, Focus Ventures.
