In its initial day as a public company, NetSpend Holdings Inc.’s stock price rose 18% Oct. 19, closing at $13, up $2. Shares peaked at $13.47.

The prepaid card marketer is selling its shares on the Nasdaq exchange under the ticker symbol “NTSP.” The Austin, Texas-based company priced its initial public offering of 18.5 million shares of common stock at $11 per share.

NetSpend in July said it planned to raise $200 million through the IPO (see story). The company earned $203.5 million.

Some uncertainty surrounding card issuer Metabank, a subsidiary of Meta Financial Group Inc., postponed NetSpend’s IPO by a week. Last week, the Office of Thrift Supervision ordered its MetaBank to dump its iAdvance credit product after determining the bank misrepresented the product (see story).

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry