Rosetta Stone Shares Rise After IPO
Shares of Arlington-based Rosetta Stone were trading at around $25 this morning after being priced at $18 a share. That was higher than the range of $15 to $17 a share expected.
Shares are trading under the ticker symbol RST. The language instruction company was offering 6.25 million shares, which means that at $18 a share the offering raised $112.5 million.
After what has been a slow period for initial public offerings, Rosetta's IPO is the second on the NYSE this week, reported my colleague Mike Musgrove over at Post I.T. Online education company Bridgepoint Education launched yesterday; its shares opened at $10.50 and closed at $11.10 on its first day.
It had been exactly a year and a day since a Washington area company filed an IPO. Last year, the Bethesda-based real estate investment trust American Capital Agency sold 10 million shares at $20 per share, when it launched its IPO on April 15. Yesterday, shares closed at $17.50.
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