Shares of snowplow maker Douglas Dynamics are rising after its initial public offering priced at the bottom of a reduced range.
Douglas Dynamics' IPO raised $112.5 million Tuesday night after the Milwaukee company cut the expected price range for its initial public offering by 23 percent. The company had hoped to sell shares for $14 to $16 each, but 10 million shares fetched $11.25 apiece from initial investors.
Douglas Dynamics Inc. shares are rising 55 cents, or 4.9 percent, to $11.80 in morning trading on the New York Stock Exchange. They are trading under the symbol "PLOW."
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