NetScreen’s IPO Nets Hefty $160 Million

NetScreen Technologies Inc., which makes security equipment to protect against computer hackers, raised $160 million in its initial stock offering after boosting the sale a second time.

The Sunnyvale, Calif.-based company sold 10 million shares at $16 apiece, above its already increased $12 to $14 range. NetScreen on Monday bumped up its offering by 60% to meet demand from investors. It initially sought 8 million shares at between $9 and $11.

NetScreen sold 14% of its common stock to new investors through Goldman Sachs & Co. The shares will trade on the Nasdaq Stock Market under the symbol NSCN.