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Lawson IPO trades up 16%
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December 7, 2001: 11:45 a.m. ET
Latest technology-related offering gains, $3B Prudential IPO on tap next week.
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NEW YORK (CNN/Money) - Lawson Software Inc. continued the recent success of technology-related initial public offerings Friday, gaining as much as 16 percent in its first day of trade on the Nasdaq.
Shares of Lawson (LWSN: up $1.80 to $15.80, Research, Estimates) hit a high of $16.19 in afternoon trading before dropping and recently changed hands at $15.76.
St. Paul, Minn.-based Lawson raised $196 million late Thursday when it sold 14 million shares at $14 each via lead underwriters Lehman Brothers and J.P. Morgan.
Lawson Software Inc. offers enterprise software for retail, healthcare, and the professional and financial services sectors. The company's technology handles the distribution, procurement and customer services for clients such as TIAA-CREF, Safeway Inc. and the American Cancer Society Inc.
Lawson is the latest tech-related issue to score in the IPO market. Magma Design Automation Inc. (LAVA: up $0.01 to $19.96, Research, Estimates), a provider of chip technology software, surged nearly 50 percent on Nov. 20, making it one of the best IPO debuts this year.
Long dormant for much of the year, IPOs have staged somewhat of a rebound in recent months. Ten new issues are now expected next week, according to MCM Equity Watch. But all eyes will be on the much anticipated IPO of Prudential Financial Inc., which will attempt to raise $3 billion.
The Prudential IPO is expected to price Wednesday and trade Thursday under the symbol "PRU," underwriters on the deal said. 
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