Luxfer shares rise on NYSE after IPO raises $80M
Luxfer shares jump in first hours of trading on NYSE after IPO prices low, raising $80M
NEW YORK (AP) -- Luxfer Holdings PLC's U.S. shares jumped in their first hours of trading Wednesday on the New York Stock Exchange.
The initial public stock offering of the chemicals and metals maker, which is based in the U.K., priced 8 million shares at $10 each. The company and its shareholders raised $80 million.
The company had predicted that shares would price higher, from $12 to $14 each.
Of the shares sold, 6.4 million were issued by the company. The rest were sold by early investors.
U.S. shares, trading under the symbol "LXFR," added $1.70, or 17 percent, to $11.70 in midday trading.
