The initial public offering of Synaptics, the first US IPO to price this year, has provided good news for the US new issue market by pricing at the top of its bookbuilding range.

The California-based company, which manufactures interfaces such as touch pads for laptop computers, priced its shares at $11 (€12.8) each, at the top of the indicative range between $9 and $11. The price range was previously decreased from between $10 and $12 on January 9. Bear Stearns led the offer that raised $55m. SG Cowen and SoundView Technology Group were co-managers.