Artio Global Investors, the asset management arm of Julius Baer priced its public offering of 25 million shares at $26 each. Stock in intra-day traded as high as $28.10 and closed at $27.25. More than 50% of offered shares changed hands in the first day of trading.
The battery developer A123 Systems increased the size of the offering and price to raise $378 million. The loss making company plans to build a Michigan facility to conduct most of its research & development.
The Swiss private bank Julius Baer plans to spin off its asset management unit Artio Global Investors. The proceeds will be used to repay Julius Baer and two principal shareholders.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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