NEW YORK (
) -- It's another disappointing week for initial public offerings, as all of the companies that came to market so far priced below expectations.
are falling 6.5% to $18.70 after the company raised just $175 million selling 8.75 million shares for $20 each.
The industrial real estate investment trust previously delayed its IPO, which was slated for January. At the time, the company expected to raise $300 million selling 15 million shares for $20 apiece.
Piedmont Office Realty Trust
sold 12 million shares for $14.50 on Wednesday, lower than the 18 million shares it expected to sell for $16 to $18 each.
But shares of the company are rising 4.8% to $15.19 in its trading debut.
cut the size of its IPO in half. It now expects to raise about $175 million by offering 16.7 million shares for $10 to $11. Graham originally expected to raise $350 million by selling 23.3 million shares for between $14 and $16.
The company is expected to begin trading on the New York Stock Exchange on Thursday.
took a hit after it raised $92.5 million by offering 5 million shares at $18.50 each, less than the range of $19 to $21 it expected.
Regardless, investors are most interested in
IPO, which is expected to come to market on Friday. The Internet marketer that competes with
, is hoping to raise $180 million by selling 10 million shares between $17 and $19.
-- Reported by Jeanine Poggi in New York.
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