Generac Launches IPO

Generac Holdings Inc., Waukesha, Wis., parent company of generator manufacturer Generac Power Systems, Inc., has priced its initial public offering of 18,750,000 shares of its common stock at $13 per share. The shares began trading on The New York Stock Exchange on Feb. 11 under the ticker symbol “GNRC.” In addition, Generac Holdings Inc. has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.

News reports said the company had hoped to raise $335 million through the IPO, but raised an estimated $244.4 million after it had to lower its price from $15 to $17 per share it had initally wanted.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish