NEW YORK (AP) -- Evertec's stock climbed in its first day as a publicly traded company.
Shares of the payment processing company, which also provides business process management services and other services, added $1.44, or 7.2 percent, to $21.44 in morning trading Friday.
The initial public offering of about 25.3 million shares priced at $20 each, at the high end of the expected range of $18 to $20 per share.
Evertec Inc. raised approximately $506 million from the IPO.
Evertec is offering about 6.3 million shares, an affiliate of Apollo Global Management LLC is offering about 10.2 million and Popular Inc. about 8.8 million. The San Juan, Puerto Rico, company won't receive any proceeds from shares sold by selling stockholders.
The shares are trading on the New York Stock Exchange under the symbol "EVTC."
- Investment & Company Information
- payment processing company