Thursday September 24, 12:50 PM
STOCKS NEWS US-A123 Systems increases shares offered in IPO
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
0728 ET 24Sept2009-A123 Systems increases shares offered in IPO (IPOA.NX - news)
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A123 Systems Inc increased the number of shares in its initial
public offering and priced them for $13.50 apiece, above the estimate range.
The upsized deal helped the Massachusetts company raise $380.4 million, far
above what it had expected. On Tuesday, facing strong demand, A123 had raised
the price estimate range of the IPO to between $10 and $11.50 apiece, up from
the original range of $8 to $9.50.
A123 sold 28.1 million shares, 9.3 percent more than expected.
A123 shares are set to begin trading on Thursday on Nasdaq (NASDAQ: news) under the symbol
'AONE.'
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