April 18, 2018 / 10:29 PM / 3 months ago

GrafTech prices U.S. IPO below targeted range at $15 per share -source

April 18 (Reuters) - GrafTech International Ltd, a maker of graphite electrodes used in the production of steel, raised $525 million in its U.S. initial public offering on Wednesday, a source familiar with the matter said, below expectations.

GrafTech, owned by Brookfield Asset Management Inc , priced its IPO at $15 per share, the source said, compared to the targeted range of $21 to $24 per share.

The company sold around 35 million shares, slightly fewer than the 37.8 million shares originally planned. Brookfield declined to comment. (Reporting by Joshua Franklin in New York Editing by Tom Brown)

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