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Ensign Group IPO raises $64 mln, below range

Thu Nov 8, 2007 10:36pm EST

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NEW YORK, Nov 8 (Reuters) - Nursing home operator Ensign Group Inc raised $64 million on Thursday with an initial public offering that priced below expectations.

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The 4 million share offering priced at $16 per share, compared with a forecast range of $20 to $22.

Underwriters, led by DA Davidson & Co, have the option to purchase an additional 600,000 shares to cover overallotments.

The Mission Viejo, California-based company has been approved to list its shares on Nasdaq under the symbol "ENSG." (ENSG.O)

(Reporting by Lilla Zuill; Editing by Tomasz Janowski)

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