The Boston Globe: Capella Education shares jump after IPO
Shares of Capella Education Co. leaped Friday, as the online university had its trading debut on the Nasdaq Stock Market.
The shares rose $5.11, or 25.55 percent, to close Friday at $25.11 on the Nasdaq Stock Market.
Capella sold 4 million shares at an initial public offering price of $20 a share. That was slightly above the expected, per-share price range of $17.50 to $19.50 set by underwriter Credit Suisse Group. The shares had opened at $25.
Capella, which is based in Minneapolis, is an accredited university that offers all its courses online, and derives about 67 percent of its revenue from federal Title IV funding for student aid.
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