Shares of Russian software developer Luxoft Holdings Inc, a unit of IBS Group, rose 20 percent in their market debut, valuing the company at about $641 million.
The offering of 4.1 million Class A shares was priced at $17 per share, the mid point of its price range, raising $70 million.
The stock was trading up 17 percent at $19.85 at 1010 ET on the New York Stock Exchange on Wednesday.
