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Smith Electric Vehicles sets range at $16-18

By Renaissance Capital,  September 07, 2012, 08:48:38 AM EDT

Smith Electric Vehicles, which manufactures zero emission commercial electric vehicles in the US and Europe, announced terms for its IPO on Friday. The Kansas City, MO-based company plans to raise $76 million by offering 4.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Smith Electric Vehicles would command a market value of $393 million. Smith Electric Vehicles, which was founded in 1920 and booked $29 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol SMTH. UBS Investment Bank, Deutsche Bank and Barclays are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: SMTH



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