Broadband business Casa Systems up 11%, following downsized IPO

Andover, Massachusetts-based Casa Systems had a tough time pulling off its IPO this week.

The broadband solutions company initially wanted to debut Thursday, but pushed its launch back to Friday, likely due to weak initial demand. Casa had planned to sell 8.4 million shares, but reduced it to 6 million, following the investor roadshow, where companies pitch institutional investors and other IPO buyers.The IPO was slated to price between $15 to $17 per share, but it priced at $13, raising $78 million versus the $134.4 million it would have raised at the midpoint of the range at the...