Molycorp, Envestnet Slash IPOs, SurgiVision Postpones
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Molycorp Inc., owner of the world’s largest non-Chinese deposit of rare-earth metals, and Internet investment-services provider Envestnet Inc. priced initial public offerings after reducing their size, while two other companies delayed or postponed sales.
Molycorp fell 8.2 percent to $12.85 in New York. The company sold 28.13 million shares at $14 after its underwriters failed to attract enough buyers at $15 to $17 apiece, according to Bloomberg data. Envestnet raised $63 million yesterday after cutting its IPO by 42 percent.