Video conference firm Pexip surges 44% in IPO debut

Shares of Norway's Pexip Holding rose 44% in early trade on Thursday as the video conferencing firm made its stock market debut following an initial public offering (IPO) that was more than 12 times oversubscribed.

The shares traded at 91 Norwegian crowns at 0701 GMT, up from 63 crowns in a sale of new and existing stock that concluded on Tuesday, now valuing the company at around 9.0 billion Norwegian crowns ($884 million). ($1 = 10.1866 Norwegian crowns)