Dolby IPO Sounds Good to Investors

Dolby Laboratories Inc.'s shares rose 35 percent in their stock market debut Thursday as investors pounced on their first opportunity to buy a stake in a 40-year-old company that has become synonymous with high-quality sound.

The San Francisco-based company's shares gained $6.30 to close at $24.30 on the New York Stock Exchange. Dolby priced its initial public offering of stock at $18 per share, up from a projected range of $13.50 to $15.50 set shortly after the company filed its plans to go public under the ticker symbol, "DLB."

[Forbes]