Kayak Software IPO: U.S. travel search engine operator Kayak Software (KYAK) landed on the NASDAQ under the symbol “KYAK.” In the first day trading session, KYAK shares trade with an opening price $30.39, 16.9% higher than Kayak Software IPO price of $26; As of 11:38 am, KYAK stock price is reporting at $33.50, an increase of 28.85% over the public offering price, on volume of 5.12 million shares; on the basis of the latest stock price, the company’s market cap is approximately $1.24 billion.
Kayak Software determined its IPO price at $26, higher than the previously anticipated price range of $22 to $25. On the basis of the IPO price, the company raised funds of approximately $91 million from the public offering. Morgan Stanley and Deutsche Bank worked as joint book-runners for Kayak Software IPO.