Instrumentation Laboratory (IL) floats below price range assumed in prospectus
This article was originally published in Clinica
Executive Summary
Instrumentation Laboratory (IL) has priced its initial public offering on Nasdaq at $12 a share, below the $16 assumed in the prospectus. Lead underwriter Salomon Brothers attributes the lower price to recent declines in the share price of similar companies and the tougher IPO market generally.