LogMeIn IPO - Investors go “log me in” bidding up shares (ticker : LOGM) more than 25% on its debut.
Logmein , leading provider of on demand , remote connectivity solutions for SMB business segment today announced IPO listing price of $16.00/share on 6,666,667 shares. Shares are listed on NASDAQ market and trades under ticker LOGM.
Shares opened up with whopping gain of 25 % and stayed above 20.00 for the most part and closed around 20.00. Logmein has around 22.1 million subscribers using its services to connect to around 70 millions devices. Recent cost containment efforts from enterprises has bode well for remote connectivity solution provides such as this , that enhances productivity , reduce cost and provide enjoyable experience to customers and users.
Logmein (www.logmein.com) is headquartered near Boston in Woburn, Massachusetts and has a development center in Budapest, Hungary with offices in Europe. Logmein is backed up Intel & venture capitalist firms.
Welcome LogmeIn and good luck - Let the winning streak continue!!
