The initial public offering of OM Asset Management raised $308 million on Thursday, while shares of HubSpot climbed after its offering priced above expectations.
OM Asset Management's offering of 22 million shares priced at $14 per share. That was below earlier expectations that shares of the London company would start at $15 to $17 each. OM Asset Management Ltd. is a unit of London-based Old Mutual, and it has $215 billion in assets under management.
By early afternoon, shares of OM Asset Management traded at $13.97, down 3 cents on the New York Stock Exchange after rising as high as $14.50 earlier in the day. The stock is trading under the ticker symbol "OMAM."
The IPO of HubSpot surpassed expectations. The company sold 5 million shares for $25 each, above the $19 to $21 per share it had expected. The Cambridge, Massachusetts, company provides a cloud-based marketing and sales software platform to small and medium sized businesses.
Trading on the New York Stock Exchange under the symbol "HUBS," HubSpot Inc. stock advanced $5.01, or 20 percent, to $30.01 by early afternoon.
The IPO of Texas bank holding company Veritex priced at $35.1 million, selling 2.7 million shares for $13 each. That was at the midpoint of its estimates.
Veritex Holdings Inc. has more than $700 million in assets and eight branches in the Dallas metropolitan area under the name Veritex Community Bank. Its shares are trading on the Nasdaq under the symbol "VBTX." They gained 55 cents, or 4.2 percent, to $13.55 in early afternoon dealings.
Molecular diagnostics company Great Basin Corp. raised $8.1 million through an offering of 1.2 million units priced at $7 per unit. The Salt Lake City company had expected to sell 1.7 million units for $6 each. Each unit is made up of one share of Great Basin stock and a warrant, which allows the investor to buy additional equity. The warrant is made up of one share and a warrant to buy another share.
The company is formally known as Great Basin Scientific Inc., and it develops low-cost testing for infectious diseases. Its shares are trading on the Nasdaq under the ticker symbol "GBSN." The stock fell 30 cents, or 4.3 percent, to $6.70 in afternoon dealings after trading as high as $9.08 earlier.