Artisan Partners raises $332 million in IPO
By Randy Diamond | March 7, 2013 4:15 pm
Artisan Partners Asset Management's IPO on Thursday raised $332 million through the sale of 11.1 million shares of stock at $30 per share.
Milwaukee-based Artisan Partners had projected in documents filed before the IPO with the Securities and Exchange Commission that the initial public offering would garner $27 to $29 per share.
The stock rose beyond $30 a share after the opening bell on the New York Stock Exchange. The stock opened at $35.20 a share and closed at $38.83, a 29.4% rise from its IPO price.
Citigroup and Goldman Sachs were the underwriters.
Artisan previously attempted an IPO in 2011 but withdrew it because of market conditions.
The firm, which trades under the symbol APAM has more about $79.5 billion in assets under management.