Print Edition - 2018-07-29  |  Money Digest

Opera’s shares pop in US market debut


Jul 29, 2018-

Web browser developer Opera Ltd’s shares rose as much as 30 percent in their US market debut on Friday, giving the Norway-based company a market value of about $1.72 billion. The company’s shares opened at $14.34, about 20 percent above its initial public offering price of $12.00 per American depositary share. Opera, founded in 1995, was originally owned by Norwegian software firm Otello Corp ASA before being bought by a consortium of Chinese investors in 2016. The company has pioneered several innovations that later became common in major browsers such as tabbed browsing and pop-up blocking, which helped users control an earlier generation of in-your-face ads and malware disguised as advertising. Opera competes with companies such as Alphabet Inc, Apple Inc and Microsoft Corp. (REUTERS)

Published: 29-07-2018 08:33

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