Vantiv stock climbs in 1st day of trading on NYSE
NEW YORK (AP) — Shares of Vantiv Inc. are rising in their first day of trading on the New York Stock Exchange.
The third-party payment processor's stock gained $2.29, or 13.5 percent, to $19.29 in morning trading Thursday.
Vantiv priced the approximately 29.4 million shares in its initial public offering at $17 apiece.
Vantiv and the selling stockholders are giving the underwriters a 30-day option to buy up to an additional 4.4 million shares to cover any excess demand. Vantiv won't receive any proceeds from shares sold by selling stockholders.
The company said in a regulatory filing that it expects net proceeds of about $460.8 million, after deducting underwriting discounts and commissions and estimated expenses.
The Cincinnati company was a unit of Fifth Third Bank until June 2009.
Vantiv is trading under the ticker symbol "VNTV."
