General
JetBlue Prices IPO Above Expected Range
TSC Staff
04/11/02 - 06:03 PM EDT
JetBlue on Thursday priced its initial public offering of 5.87 million shares at $27 each, selling more stock than expected and at a higher price than the range projected only a day before.
The offering price means the low-fare airline raised proceeds of around $158.5 million. On Wednesday, JetBlue said it expected to sell 5.5 million shares at a price of $25 to $26 each in the IPO.
Morgan Stanley, Merrill Lynch, Raymond James and UBS Warburg managed the offering. Shares of JetBlue are expected to start trading on the Nasdaq 
Friday under the symbol JBLU.