On Deck shares soar in debut while Rice Midstream Partner's stock slips

Markets Associated Press

Companies making their market debut on Wednesday saw mixed results.

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Online small business lender On Deck Capital Inc.'s shares soared 40 percent by midday. The stock was the biggest gainer on the New York Stock Exchange.

The New York company priced its offering of 10 million shares at $20 per share. The stock is trading under the ticker symbol "ONDK" on the New York Stock Exchange. The company has also granted underwriters the option to buy up to 1.5 million shares to cover any overallotments.

Meanwhile, shares of Rice Midstream Partners LP, a natural gas gathering spinoff of Rice Energy Inc., fell below their IPO price. The company based in Canonsburg, Pennsylvania, priced its offering of 25 million shares at $16.50 per share. But the stock was downl 1 percent to $16.27 by midday and hit as low as $15.75 earlier in the day.

Rice's shares are trading on the NYSE under the symbol "RMP." The company also offered underwriters the option to buy up to 3.75 million additional shares.

Research firm Renaissance Capital says 273 IPOs have priced thus far this year, up 23 percent from last year.