Roku shares rocket as it hits $250 million in IPO

Streaming media player maker Roku has raised $252 million in its initial public offering, asking $14 per share for 18 million shares, CNBC reported.

Roku was aiming to raise $219 million from the IPO.

The price of the stock soared following its listing at $15.78, closing 67% higher at $23.50.

According to MarketWatch, the stock climbed in after-hours trading – reaching $24.39 at the time of writing.

Roku said it plans to use the capital for research and development, and marketing.

Now read: Official Netflix partner Kwesé Play launches Roku player in South Africa

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Roku shares rocket as it hits $250 million in IPO