ManTech stock ascends on first day of trading

ManTech International Corp.'s stock rose nearly 14 percent on its first day of trading Feb. 7, closing at $18.21.

The stock of the Fairfax, Va., company opened at $16, and at one point during trading it hit a high of $18.50.

ManTech, which provides information technology and technical services to U.S. government agencies, offered 6.87 million shares and raised about $115.2 million.

ManTech is the first predominantly government-focused IT company to go public in nearly two years.

On tap for its own initial public offering is Anteon Corp. of Fairfax, Va. Anteon has filed with the Securities and Exchange Commission, but has not set a share price or the date for its IPO.

With the government IT market being one of the few bright spots in an other wise dull economy, analysts and industry officials are expecting other government contractors to make their debut on Wall Street.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

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