Fluidigm Gains 5.2% After $75 Million Public Offering
Fluidigm Corp. advanced as much as 5.2 percent after the maker of laboratory equipment used for genetic research raised $75 million in its U.S. initial public offering, pricing the shares at the low end of the range.
The San Francisco-based company sold 5.56 million shares at $13.50 each after offering 5.2 million for as much as $15.50 apiece, according to a Securities and Exchange Commission filing and data compiled by Bloomberg. Fluidigm rose 2.4 percent to $13.82 at 12:17 p.m. in its first day of trading on the Nasdaq Stock Market.
Eleven companies are trying to raise $3.2 billion after two IPOs were postponed this week and only six of 12 offerings scheduled for the five days through Feb. 4 were completed, according to data compiled by Bloomberg. Kinder Morgan Inc., the Houston-based pipeline company taken private in 2007, will try to raise $2.3 billion today after the Standard & Poor’s 500 Index on Tuesday closed at its highest level since June 2008, the data show.
Frankfurt-based Deutsche Bank AG and Minneapolis-based Piper Jaffray Cos. led the offering, according to the share-sale document. The company, which has reported losses since at least 2005, plans to use the proceeds to expand its sales force and invest in research and development, the prospectus said.
Zuoan Fashion Ltd, China’s second-largest casual menswear retailer, reduced the size of its planned offering by 51 percent today. The Shanghai-based company, which designs its own apparel, now plans to sell 6 million shares at $7 apiece this week after previously offering 6.9 million for as much as $12.50, according to data compiled by Bloomberg.
Cowen & Co. in New York is arranging the offering, the company’s SEC filing showed.
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