DEC. 9 1:41 P.M. ET A company that makes lasers for hair removal and skin treatments was the focus of the initial public offering market on Friday, as three new stocks began trading.
Cynosure Inc., a Westford, Mass.-based laser treatment company, was up 24 percent in afternoon trading. Basic Energy Services Inc. and Korea’s WiderThan Co. Ltd. both opened above their IPO prices, only to lose some ground in early trading.
Shares of Cynosure were at $18.63 on the Nasdaq Stock Market, up from the IPO offer price of $15 a share. The company sold 5 million shares at a price above the expected, range of $12 to $14 set by underwriter Citigroup Inc.