NEW YORK (
China Intelligent Lighting
priced their initial public offerings Friday, wrapping up a busy week for IPOs.
Motricity, a Web-based mobile Internet and data services provider, delayed its IPO by one day and reduced the size of the offering. Initially, the company said it hoped to raise more than $100 million by offering 6.75 million shares of common stock in an expected range of $14 to $16. Motricity eventually slashed the offering to 5.9 million shares for $10 to $11 each.
Entities affiliated with billionaire investor
, who already has an 18.5% stake in Motricity, purchased another 1 million shares at $9.30 each, the company said.
Meanwhile, China Intelligent Lighting said late Thursday it has priced its initial public offering of 3.35 million shares of common stock at $3 per share. Originally, the Chinese lighting solutions and products provider filed to sell 2.5 million shares at $3 to $4 per share before increasing the offering to 3.5 million shares at $5.50 to $6.50 per share. Last month, China Intelligent Lighting then lowered the price range to $4 to $5 per share.
The two IPOs ends a busy week for first-time offerings. Earlier this week,
Higher One Holdings
made their trading debuts.
The returns of this week's IPOs have been mixed, with Higher One rising 18.9% since its IPO. CBOE has returned 8.6% and Oasis share are up 6.3%. On the downside, BroadSoft shares have fallen 7.1% since their debut.
-- Written by Robert Holmes in Boston
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