With no end in sight to the political impasse in Washington that has shut down the government, the U.S. IPO market is expected to experience a significant slowdown just as it was beginning to show signs of life again.
Some companies are nevertheless forging ahead with their listings.
Phoenix Education Partners, parent company of the for-profit University of Phoenix, which announced its IPO plans one day before the shutdown began, said on Wednesday that it has priced its shares at $32. That’s the midpoint of its earlier targeted range of between $31 and $33 a share.
The company intends to list on the New York Stock Exchange (NYSE) under the “PXED” ticker symbol. Selling shareholders will offer roughly 4.3 million shares of its common stock, with Morgan Stanley, Goldman Sachs, BMO Capital