This weeks IPOs.... not bad
Freescale trades above asking price
Greenfield, Collegiate and QC Holdings also roll out
Greenfield Online and QC Holdings also rose, but Collegiate Funding Services fared worse.
Freescale (FSL: news, chart, profile) opened at $13 per share, flat with its offering price, but ended the session at $14.02. Nearly 28.7 million shares traded hands in midday action.
Even at its reduced price of $13, the IPO of 121.6 million shares raised nearly $1.6 billion, making it one of the largest deals of the year.
The Austin, Texas-based chip firm cut the estimated price range of its initial public offering to $13 to $14 per share, below the earlier $17.50 to $19.50 range, with underwriters Goldman Sachs, Citigroup and J.P. Morgan.
The spinoff from Motorola (MOT: news, chart, profile) debuted on the heels of disappointing results from Intel (INTC: news, chart, profile) earlier this week and downgrades in the sector.
Meanwhile, an IPO from LG.Philips LCD priced Thursday night for trading next week. See full story.
Greenfield Online prices low, then pops
Internet polling firm Greenfield Online (SRVY: news, chart, profile) priced 5 million shares at $13 each, generating gross proceeds of $65 million. The pricing came in at the low end of the expected $13 to $15 range.
Nevertheless, shares of the Wilton, Conn.-based firm opened Friday at $16, and zoomed to $18.70, a 17 percent rise.
Lehman Bros. led the deal's underwriting.
QC Holdings prices and climbs
QC Holdings (QCCO: news, chart, profile) had priced its IPO of 5 million shares at $14 each for proceeds of $70 million. The pricing came in at the low end of the shares' expected $14 to $16 range.
Yet the stock rose 70 cents to close at $15.20.
The Kansas City, Kansas-based company is a payday loan specialist.
Collegiate Funding Services near opening price
The IPO for Collegiate Funding Services (CFSI: news, chart, profile) priced 9.38 million shares at $16 for proceeds of $150.1 million. The pricing was in the middle of the expected range of $15 to $17.
Shares of the Fredericksburg, Va.-based student loan company opened Friday at $16, falling 36 cents to close at $15.64.
J.P. Morgan and Merrill Lynch led the deal's underwriting |
