 |
|
IPO Story
Syneron Offered at $12 Jeffrey R. Hirschkorn, Senior IPO Analyst, Aug. 5, 2004 The third IPO pricing of the week just occurred. Similar to the other two deals of the week, Syneron Medical (proposed: ELOS) priced its IPO of 5.5 million shares at $12, below initial expectations, through lead manager Citigroup Global Markets. In fact, in the firm�s last revision, it maintained a goal of offering 5.5 million shares at talk of $12-$14. Talk was lowered from $14-$16. Co-managers on the deal included CIBC World Markets and Stephens & Co. All in all, the company and selling holders, raised $66 million from the IPO. Based in Israel, the firm is a skin and hair care medical device concern. Trading will begin on Friday. In an unrelated note, GFI Group (proposed: GFIG), an over-the-counter derivatives broker, increased its plans for the IPO. It now anticipates pricing $115 million of common stock. In an initial filing, it planned on raising $100 million. Citigroup Global Markets is the lead banker. E-mail: jeffh@currentofferings.com. |
