American Water (AWK) IPO Trades Lower
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The IPO for American Water (NYSE: AWK) is open for trading. The stock is trading at $20.35 after pricing 58 million shares at $21.50, which was below its estimated $24-$26 range.
American Water's offering is being made through Goldman Sachs, Citi, and Merill Lynch, which were the joint book-running managers.
American Water is the largest investor-owned United States water and wastewater utility company, as measured both by operating revenue and population served. [LJ]
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