Shares of sound technology firm Dolby Laboratories started trading Feb. 17 on the New York Stock Exchange with a 35% pop, making it the best first-day return of any initial public offering so far this

NEW YORK (The Hollywood Reporter) -- Shares of sound technology firm Dolby Laboratories started trading Feb. 17 on the New York Stock Exchange with a 35% pop, making it the best first-day return of any initial public offering so far this year.

The company late Feb. 16 priced 27.5 million shares at $18 each, which marked the top end of an already boosted $16-$18 proposed pricing range and meant that the IPO raised $495 million. Pricing at the high end usually indicates strong market demand for a new stock.

Dolby's original pricing range stood at $13.50-$15.50 per share. Shares of Dolby, which trade under ticker symbol DLB, on Feb. 17 opened at $23 and closed at $24.30, up 35% from its $18 initial pricing. Intraday, the stock hit a low of $22.95 and a high of $25.45. According to Reuters, about 19.1 million shares changed hands on Feb. 17.