Five IPOs Post Gains in Debut

Investors gave warm receptions to five initial public stock offerings Thursday after snubbing two issues earlier in the week.

The latest deals fueled optimism that the long list of firms hoping to go public this year would find an audience for their shares.

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Thursday’s IPOs:

* Insurance giant Assurant Inc. (ticker symbol: AIZ) jumped $2.70 to $24.70 on the New York Stock Exchange after selling 80 million shares at $12 each.

* Offshore driller Todco (THE) rose $1.70 to $13.70 on the NYSE. Parent Transocean Inc. sold 12 million Todco shares at $12 each.

* Renovis Inc. (RNVS), a biotechnology firm, surged $2.50 to $14.50 on Nasdaq after selling 5.5 million shares at $12 each.

* Debt collector Asset Acceptance Corp. (AACC) rallied $1.68 to $16.68 on Nasdaq. It sold 7 million shares at $15 each.

* Shoe retailer Bakers Footwear Group (BKRS) closed at $8.29 on Nasdaq, up 54 cents. It sold 2.16 million shares at $7.75 each.

On Tuesday, auto parts maker TRW Automotive Inc. and biotech firm GTX Inc. fell below their offering prices as trading began.