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Investing.com -- NIQ Global Intelligence plc began trading on the New York Stock Exchange Wednesday, with shares opening at $20.25, below the initial public offering price of $21.00 per share.
The company, trading under the ticker symbol "NYSE:NIQ", priced its IPO at $21.00 per ordinary share on Tuesday, offering 50,000,000 ordinary shares.
NIQ Global Intelligence plans to use the net proceeds from the offering, along with available cash as needed, to repay outstanding amounts under its revolving credit facility and a portion of its US term loan facility. Any remaining funds will be allocated to working capital and general corporate purposes.
The underwriters have a 30-day option to purchase up to an additional 7,500,000 ordinary shares from the selling shareholder at the initial public offering price, less underwriting discounts and commissions.
J.P. Morgan, BofA Securities, UBS Investment Bank, Barclays (LON:BARC) and RBC Capital Markets are serving as joint lead book-running managers for the offering.
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