October 1, 2014 / 2:07 PM / 3 years ago

Vivint Solar shares rise as much as 9 pct in debut

Oct 1 (Reuters) - Shares of Vivint Solar Inc, the second-largest installer of residential solar panels in the United States, rose as much as 9 percent in their market debut on the New York Stock Exchange, valuing the company at about $1.84 billion.

Vivint raised about $330 million after it sold all 20.6 million shares offered at $16 per share, the low end of the expected range of $16-$18.

Blackstone Group LP, which owned 97 percent of Vivint before the IPO, did not sell any shares but its stake was diluted to 78.2 percent.

The shares hit a high of $17.47 before slipping back to $16.60 about 10 minutes after the start of trade. (Reporting by Amrutha Gayathri and Swetha Gopinath; Editing by Ted Kerr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below