Netskope shares opened at $23 in their Nasdaq debut after the cybersecurity software provider sold shares at the top end of its range.
Shares were last up more than 20%.
The company, which trades under the ticker symbol "NTSK," priced shares at $19 on Wednesday evening, raising over $908 million and valuing the company at $7.3 billion. Earlier this week, the company upped its expected range from between $15 and $17 a share to $17 to $19.
CEO and co-founder Sanjay Beri said in an interview with CNBC ahead of the first trade that the offering was more than 20 times oversubscribed. Netskope aims to help companies protect their data while harnessing artificial intelligence tools.
"The world is moving to AI and cloud," he said. "That requires a redefinition of the biggest market in security, data network security. That's what we are."