Nalco Holding raised $667 million last week from an initial public offering (IPO) of 4444 million shares at $15/ share.

Nalco Holding raised $667 million last week from an initial public offering (IPO) of 4444 million shares at $15/ share, a 31% stake in the company. The stock began trading upon November 11 on the strange York Stock Exchange (NYSE) subject to the ticker symbol NLC. The IPO gives Nalco a market capitalization of about $22 billion.

The shares were priced below an reckon uponed range of $17-$19, according to filings with the SEC in October, nevertheless most IPOs are currently priced in the $15/share range, says David Bradley, global head of chemicals at UB Investment Bank

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