Spanish engineering firm TSK Electronica y Electricidad SA’s shares opened higher after the firm’s owners raised €150 million ($176 million) in an initial public offering, the first sizable main market listing in Spain this year.

The family-owned company’s stock opened at €5.28 per share, about 5% above the price set in its IPO. The company priced its IPO at €5.05 per share, at the top of the marketed range.