QAD Shares Rise 50% in 1st Day of Trading

QAD Inc. shares rose 50% in the company’s first day of trading. Shares of the Carpenteria-based company rose $7.50 to close at $22.50 in Nasdaq trading, and reached $23.25 earlier. QAD was the fifth-biggest percentage gainer on U.S. markets, after an $86.3-million initial public offering. QAD sold 5.75-million shares at $15 each to raise $86.3 million. The price was more than the expected range of $12 to $14 in a sign of healthy demand for the shares. The offering represents about a 20% stake. QAD makes enterprise resource planning software, which helps large manufacturing companies manage resources and information. QAD’s customers include AT&T; Corp., Ford Motor Co., Johnson & Johnson and Xerox Corp.