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Talecris shares rise on first day of trading
Associated Press
NEW YORK—Shares of Talecris Biotherapeutics Inc. opened their first day on the Nasdaq 2.6 percent higher than the company’s IPO price and shares continued to climb throughout midday.
On Thursday, the biotechnology company priced its IPO of 50 million shares at $19 per share. The stock opened at $19.50. By midday, shares were up 80 cents, or 4.2 percent, from the IPO of $19.
The Research Triangle Park, N.C.-based maker of protein therapies is offering 28.9 million shares, while stockholders Cerberus Capital Management and Ampersand Ventures are offering 21.1 million shares. The company will use its proceeds to pay debt.
