Phibro Animal Health Corp. (PAHC) Stock Rises After IPO

NEW YORK (TheStreet) -- Phibro Animal Health Corp.  (PAHC) rose on Friday, its first day of trading after the animal health pharmaceutical manufacturer's IPO.

The company priced 11.765 shares of Class A common stock in its initial public offering at $15 a share, below its $16 to $18 range. U.K. private equity firm 3i Group backed the Teaneck, N.J.-based Phibro, which sold 7.352 million shares in the offering. Selling stockholder Mayflower, which 3i manages, offered the rest of the shares.

Phibro opened at $16.50 on Friday and hit a high of $16.75 as of 1:15 p.m. More than 3.3 million shares had changed hands.

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