Investment management services provider Manning & Napier has priced its initial public offering (IPO) at $12 per share, below its expected range, Reuters reports. The New York-based company has sold 12.5 million shares in the offering, raising $150 million.
The IPO was underwritten by Bank of Amercia Merrill Lynch. Shares were slated for listing on the New York Stock Exchange on Friday.
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New York Stock Exchange Napier Prices New York Amercia Merrill Lynch Reuters