initial public offerings (IPOs) trading on American exchanges

Friday, August 12, 2011

Carbonite started trading on the Nasdaq on 11 August 2011

Web-based computer backup company Carbonite Inc (CARB) began trading on the Nasdaq Thursday, 11 August 2011
  • The company had to slash the price from its originally planned range of $15 to $17 to $10 per share
  • It raised $62.5 million in its IPO, and ended its first trading day at $12.35, up 23.5 percent from its IPO price of $10.
  • The company priced its IPO at the bottom of a lowered price range, and raised about 38 percent less than planned.

Concerns about the U.S. economy and the European debt crisis have helped push the S&P 500 index .SPX down about 13.9 percent from a peak at the start of May. Of the 12 IPOs expected this week, only two have priced.

Bank of America Merrill Lynch and JPMorgan lead the underwriters on Carbonite.

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