After months of waiting, Manning and Napier [see profile]
has priced its initial public offering. The wait did not make the stock more dear, though. The price on the IPO is $12 per share, well below the $15 to $17 that the underwriters had anticipated.
The stock will begin trading on the NYSE under the "MN" symbol Friday morning.
Manning & Napier will sell 12.5 million shares, raising $150 million. It manages $38 billion in assets.
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