San Francisco - Mobile games publisher Glu Mobile raised $84 million in its initial public offering (IPO) on Thursday, giving the company a market capitalization of around $327 million.

The company priced 7.3 million shares priced at $11.50 a share, within the forecast range of $10-$12 per share.

Glu's shares climbed 11% on their first day of trading, hitting $12.80 on Thursday afternoon.

Founded in 2001, San Mateo, Calif.-based Glu has developed and/or published more than 100 games for cell phones, which are available from over 150 carriers and other distributors worldwide.

Related Links:
http://biz.yahoo.com/bw/070321/20070321006250.html?.v=1

http://tinyurl.com/2tbwag (MarketWatch)

http://www.glu.com