SolarEdge Technologies Shares Surge In Nasdaq Debut

(RTTNews) - Shares of SolarEdge Technologies, Inc. (SEDG) are rising sharply in their trading debut on the NASDAQ Global Select Market following a successful initial public offering.

SolarEdge priced its IPO of 7.0 million shares at a price to the public of $18 per share, the high end of its previously estimated $16 to $18 range.

As part of the offering, the underwriters have been granted a 30-day option to purchase up to 1.05 million additional shares.

The offering is expected to close on March 31.

SolarEdge is a provider of power optimizer, solar inverter and monitoring solutions for photovoltaic arrays.

SolarEdge shares are currently trading at $20.31 after trading as high as $20.95 earlier in the session.