Reuters: Hot Stocks: Shares of cloud company RingCentral jump 28 pct in debut

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Shares of cloud company RingCentral jump 28 pct in debut Sep 27th 2013, 14:30 Sept 27 | Fri Sep 27, 2013 10:30am EDT Sept 27 (Reuters) - Shares of RingCentral Inc, a cloud-based business communications services provider, rose as much as 28 percent in their market debut on Friday. The company priced its offering of 7.5 million shares at $13 each, the higher end of its proposed price range, raising $97.5 million. San Mateo, California-based RingCentral, which has more than 300,000 customers, helps small businesses manage their mobile, fax and email communications. Goldman Sachs, JP Morgan and Merrill Lynch, Pierce, Fenner & Smith were the lead underwriters to the offering. (Reporting By Varun Aggarwal in Bangalore; Editing by Sriraj Kalluvila)

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