Intelsat IPO Gets $347.8 Million as Stock Priced Below Range

Intelsat Global Holdings SA, the world’s largest satellite services business, raised $347.8 million in its U.S. initial public offering, pricing a decreased number of shares below the proposed range.

Intelsat sold 19.3 million shares for $18 each, according to data compiled by Bloomberg, after offering 21.7 million shares for $21 to $25 apiece. The stock will start trading today, listed on the New York Stock Exchange under the symbol I.