Sensata prices rise in trading debut after raising $568.8 million in biggest IPO this year
By APThursday, March 11, 2010
Sensata shares rise after IPO raises $568.8M
NEW YORK — Shares of Sensata Technologies, which raised $568.8 million in the biggest IPO this year, are rising in their trading debut.
Sensata Technologies Holding NV, based in the Netherlands, priced 31.6 million shares at $18 apiece. It’s the second company this week to sell shares to initial investors within its hoped-for range. That’s happened in only about 38 percent of this year’s IPOs.
Sensata makes sensors and controls, with more than half of its revenue coming from the auto industry. It is a former subsidiary of chip maker Texas Instruments Inc. and is now backed by private equity firm Bain Capital.
The shares, trading under the symbol “ST,” are up 27 cents, or 1.5 percent, to $18.27 in morning trading.
