Delphi Prices IPO at $22/Share; Magna Acquires Castings Operations Thursday, November 17, 10:55 AM ET
Delphi Automotive (NYSE:
DLPH) will begin trading today on the New York Stock Exchange after pricing its initial public offering at $22 per share.
The price was at the low end of the expected range.
The auto parts maker will not actually receive any proceeds from the IPO, as all of the shares are being sold by the company's major shareholders.
Delphi was formerly part of General Motors (NYSE:
GM), was spun-off years ago, and like its former parent, eventually declared bankruptcy.
Delphi exited Chapter 11 in 2009.
Goldman Sachs (NYSE:
GS) and JPMorgan (NYSE: JPM) ran the initial public offering.
Also today, rival Magna International (NYSE:
MGA) said its Cosma International unit has agreed to acquire the operations of vacuum high-pressure aluminum die casting company BDW Technologies.
The acquisition expands Cosma's ability to deliver lightweight solutions for complex body-in-white structural and chassis components to customers, the company said.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Delphi Prices IPO at $22/Share; Magna Acquires Castings Operations
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