The initial public offering of Apropos Technology (Nasdaq: APRS), which provides customer interaction management for online businesses, got off to a strong start on Thursday. The stock climbed 24 to 47, a gain of about 109 percent.
Apropos priced 3.7 million shares at $22, above the revised range of $17 to $19 and well above the previous range of $13 to $15.
The management of customer relationships is a growing business that investors are in love with right now, as evidenced by the strong performance of stocks like Kana Communications and E.piphany, and it will not be surprising if Apropos’ stock gets even hotter. Apropos’ customers include Amazon.com, 3Com, Danka and Seagate Software.