The company’s shares have been approved to trade on the New York Stock Exchange.
The Englewood, Colorado-based company provides technical data and services to companies in a range of industries, including energy production and engineering.
The stock closed the first day and the week at $17.10, up 7% from the offering price.
The billboard company
Clear Channel Outdoor (
CCO: chart) priced 35 million shares at $18 per share on Friday, rising $630 million. This ranks it about the 10th largest IPOs in the U.S. market this year by value, according to Dealogic.
Clear Channel had originally planned to offer 40.25 million shares within a price range of $20-$22 a share, raising up to $885.5 million, but later it reduced its offering.
Goldman Sachs was the lead manager on the deal.
Clear Channel is an operator of billboards and other outdoor advertising. The company is a spin-off of the biggest U.S. radio station operator,
Clear Channel Communications Inc. (
CCU: chart).
The stock has been approved to trade on the New York Stock Exchange and closed the first day and the week at $18.55, up 3% from the offering price.
The biopharmaceutical company
CombinatoRx Inc. (
CRXX: chart) priced 6 million shares at $7 on Wednesday. The price was at the low end of the $7-$9 filing range. The company previously reduced its initial filing range of $10-$12 per share.
The company’s stock began trading on the Nasdaq National Market and closed at $7.85 the first day.
SG Cowen acted as a lead manager, Pacific Growth Equities was co-lead manager, and Lazard Capital Markets and A.G. Edwards were acting as co-managers for the offering.
CombinatoRx offered all of the 6 million shares of common stock. In addition, the company has granted the underwriters an option to purchase up to 900,000 additional shares to cover over-allotments.
The company’s stock ended the week at $7.50, up 7% from the offering price.
DECLINERS
The natural-gas transmission company
Boardwalk Pipeline Partners (
BWP: chart) priced 15 million shares at $19.50 each on Wednesday, at the midpoint of its revised price range of $18.50-$20.50. The deal is valued at $292.5 million.
The company had origially filed to price within a $19-$21 range, but last month underwriters cut the estimated price range to $18.50-$20.50 per share.
Boardwalk Pipeline’s shares began trading on the New York Stock Exchange and fell 2.8%, to close at $18.95 on the first day.
Citigroup and Lehman Brothers managed the deal.
In addition, Boardwalk Pipeline granted the underwriters a 30-day option to sell up to 2.25 million additional units if demand is sufficient.
The Owensboro, Kentucky-based company operates pipelines used to transport oil and natural gas from the Gulf of Mexico. Boardwalk is a subsidiary of
Loews Corp. (
LTR: chart), the New York insurance and hotel company.