DivX Shares Rise on IPO

DivX, the video compression company saw its stock close at $18.70 on the first day of trading Friday after its IPO. It briefly hit $19.50. The company sold 9.1 million shares for $16 a share, so the closing price represents a 16.9 percent increase. Until recently, DivX said it would offer its shares for between $12 and $14 a share. From $12 a share, the closing price on Friday represents an increase of over 50 percent.

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