Internet Gold (Nasdaq: IGLD) priced its 4.5 million shares at $12 each, in the middle of its $11 - $13 range for trading Friday.
Lehman Brothers is the lead underwriter, co-managers are CIBC World Markets, and Unterberg Towbin. The Eurocom Communications spin-off is a leading Israeli ISP based in Rosh Haain, Israel. Pacific Internet Ltd. (Nasdaq: PCNTF) and StarMedia Network Inc.(Nasdaq: STRM) are similar companies.
Israel's Internet Gold is one of the companies set to benefit from the recent enthusiasm for overseas stocks. It has the largest market share in Israel at 34 percent, said Jennifer McBrien, an analyst at Renaissance Capital Corp.'s IPO Plus Aftermarket Fund.
"This will generate a lot of interest because it is in Israel and there is such a technology-inclined community there,'' McBrien said.
Reuters contributed to this report.