Shares of Borderfree rise about 33 pct in debut

Fri Mar 21, 2014 10:38am EDT
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March 21 (Reuters) - Borderfree Inc's shares rose as much as 33 percent in their debut, valuing the e-commerce technology provider at about $648 million.

Borderfree provides online tools that help U.S. retailers such as Macy's Inc, Aeropostale Inc and Under Armour Inc.

The company raised about $80 million after its offering of 5 million shares was priced at $16 each, the top end of its expected price range.

Borderfree's shares opened at $21 and rose to $21.25.

Credit Suisse and RBC Capital Markets are among the lead underwriters for the offering. (Reporting by Avik Das in Bangalore; Editing by Don Sebastian)