Standard Nuclear shares drop 10% in NYSE debut

Investing.com -- Standard Nuclear shares opened at $13.50 on the New York Stock Exchange on Thursday, falling 10% below the company's initial public offering price of $15 per share. The opening price gave the nuclear fuel firm a valuation of $2.17 billion.

The company sold 10 million shares at $15.00 per share, raising $150 million through the offering. Shares are now trading on the New York Stock Exchange under the ticker STDN.

The nuclear fuel company's offering drew demand for several times the reduced number of shares available, Bloomberg reported earlier.

Bank of America Corp., Goldman Sachs Group Inc., Barclays Plc, and UBS Group AG were among the banks that managed the offering.

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