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Glu shares rise on first day of trading

Good start as publisher goes public

Glu Mobile has gone public on the NASDAQ with shares rising from USD 11.50 to USD 12.35 on the first day of trading.

The company initially offered 7.3 million shares of common stock, and has also granted underwriters a 30-day option to purchase an additional 1.09 million shares from Glu and other stockholders.

The company currently publishes a number of games ranging from retro titles such as Super KO Boxing to new IP from partners Sega, and well-known franchises including Project Gotham Racing.

Glu was also one of the first mobile publishers to publicly back Nokia's new N-Gage format, due for release later this year.

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