GBC shares rise 10% since public debut
Jul 08, 2013 | 08:45 AM
| Everdeen Mason
NEW YORK Global Brass & Copper Holdings Inc.s (GBCs) stock is up about 10 percent since its initial public offering (IPO) in May, and Morgan Stanley Research analysts expect the companys share price and earnings to improve through 2014 on the back of an overall improvement in end markets such as housing and automotive.
GBC had hoped to raise $172.5 million with the IPO, which began trading May 23 at $11 per share, to settle some debt and fund potential future acquisitions (amm.com, May 31). A GBC spokesman said the company was in a "quiet period" and could not comment until it releases its second-quarter results in August.....
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