Edwards Group (EVAC) IPO Opens Flat

The IPO for Edwards Group Limited (Nasdaq: EVAC) opened at $8.07 after pricing 12,500,000 American Depositary Shares at $8.00 per ADS, below the expected $9-$10 range which was lowered from $11-$13.

Barclays Capital Inc., Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are the book-running managers for the offering. RBC Capital Markets, LLC, Piper Jaffray & Co. and Lazard Capital Markets LLC are the co-managers for the offering.

Edwards is a leading manufacturer of sophisticated vacuum products and abatement systems and a leading provider of related value-added services for the manufacture of semiconductors, flat panel displays, LEDs and solar cells and a leader in vacuum technology for industrial, pharmaceutical, chemical, scientific, process, glass coating and food packaging industries as well as a wide range of R&D applications.

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