Elster Group SE (ELT) IPO Prices at $13, Well Below Expected Range

September 30, 2010 7:02 AM EDT
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Elster Group SE (NYSE: ELT) priced its 16,200,000 ADS IPO at $13 per share, well below the expected $16-$18 range. Shares will open today on the NYSE under the symbol "ELT."

The offering is being made through Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan, Baird, Canaccord Genuity, Piper Jaffray, RBC Capital Markets, and Stephens, Inc.

Elster Group is one of the world’s largest providers of gas, electricity and water meters and related communications, networking and software solutions.

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