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Xionics goes public

Xionics launches an initial public offering that rose 19.8 percent by the close of market.

Xionics Document Technologies (XION) today launched an initial public offering that rose 19.8 percent by the close of market.

Xionics, a provider of embedded-systems technology, offer 3 million shares at $12 apiece. By the end of the day, the stock closed at 14-3/8.

The proceeds will be used to pay debt and general corporate expenses. Xionics products are used in such devices as office printers, copiers, scanners, and peripherals.