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GT Solar IPO prices at $16.50 per share in IPO
NEW YORK (Reuters) - GT Solar International Inc's initial public offering priced at $16.50 per share, within its estimated range of $15.50 and $17.50 a share, UBS Securities said on Wednesday.
The New Hampshire-based company, which makes equipment used by the solar energy industry, sold 30.3 million shares owned by current stockholders and raised about $500 million.
The proceeds of the offering will go to stockholders of record June 30. The company said in a previous filing that they do not plan to pay dividends on its common stock for the foreseeable future, other than the $90 million dividend declared June 30 to be paid to existing shareholders.
The lead underwriters on the offering were Credit Suisse and UBS Securities.
(Reporting by Phil Wahba; editing by Carol Bishopric)
