Shares of Red Rock Resorts Inc. , a casino operator and a rare consumer IPO so far this year, were trading at $18.70 Wednesday, below the company’s IPO issue price of $19.50. Red Rock resorts sold 27.25 million shares to raise about $531 million. The company had previously set a price range for shares between $18 and $21. Deutsche Bank, JPMorgan, Bank of America Merrill Lynch and Goldman Sachs & Co. were the lead underwriters of the offering.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News