Milacron Holdings (MCRN) Stock Dropping After IPO

NEW YORK (TheStreet) -- Shares of Milacron Holdings (MCRN) are dropping 0.5% to $19.90 in afternoon trading on Thursday, the company's first trading day on the New York Stock Exchange after its IPO. 

Milacron Holdings is a provider of processing equipment for plastics. It manufactures and distributes to North America, Europe, Asia, and internationally.

The company announced its initial public offering of 14.28 million shares at $20 per share yesterday. Underwriters were granted a 30-day option to purchase up to an additional 2.14 million shares of common stock. 

Milacron has emerged from a 2009 bankruptcy filing, CNBC.com noted.

More than 6.8 million were changing hands as of 12:45 p.m. 

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