(QuinStreet article updated with JinkoSolar IPO)
NEW YORK (
) -- The highly-anticipated
IPO received a lukewarm reception on its trading debut on Thursday.
The company, which competes with
to sell advertising, raised $140 million selling 10 million shares for $15 each. This was below its expected range of $17 to $19 a piece.
Shares of QuinStreet are nearly flat in afternoon trading.
QuinStreet comes to market as initial public offerings are consistently failing to meet expectations. Earlier this week,
Piedmont Office Realty Trust
all priced their offering below expectations.
said on Thursday that it is delaying its IPO. The company was slated to begin trading earlier this week and did not provide a new timeline for the deal.
This is the fifth company to delay its IPO so far this year.
-- Reported by Jeanine Poggi in New York.
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