Grand Canyon Education to IPO this month
Online college Grand Canyon Education Inc. is planning its initial public offering later this month, in a deal that would mark the end of a nearly four-month IPO drought in the U.S.
The deal is set to price the week of Nov. 17, according to underwriters. Arizona-based Grand Canyon Education filed for its IPO in May, and set a share size and price range at the end of September. But it didn't select a date to launch the deal as October led to steadily deteriorating broad market conditions.
The company plans to sell 10.5 million shares at a price between $16 and $18, $2 lower than originally planned, and will list on the Nasdaq Stock Market under the symbol "LOPE." Credit Suisse Group and Merrill Lynch & Co. are the lead underwriters. The deal is expected to begin trading Nov. 20.
No comments:
Post a Comment