Deals
Artisan Jumps in Trading Debut After Pricing IPO Above Range
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Artisan Partners Asset Management Inc., the Milwaukee-based money manager that withdrew plans to go public in 2011, jumped in trading after pricing its initial public offering above the proposed range.
The shares advanced 29 percent to $38.83 in its first day of New York trading, after earlier climbing as high as $39.50. Artisan raised $332 million yesterday, selling 11.1 million shares for $30 each, according to data compiled by Bloomberg. The firm had offered 11.5 million shares, equivalent to a 17 percent stake, for $27 to $29 apiece.