Pricing Tue night. GSCO, JPMS, DBAB, MSCO, LEHM, FBCO and WBLR on the deal. 20 mm shares.
Does that mean that the stock will trade down to that level or the people that participate in the shares receive them at that level?
It will probably price between $24.50-$25.00 this evening. Generally speaking, secondaries usually drop near the pricing level in the premarket, but rally later in the day.I'm able to get secondary shares and this pattern holds about 70-80% of the time. I usually hold the shares until the afternoon.