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Tags: US | Global | Geophysical | Services | IPO | Mover

Global Geophysical Shares Rise in IPO Debut

Thursday, 22 April 2010 10:17 AM

Shares of Global Geophysical Services, which provides seismic data services to oil and gas companies, are rising in their IPO debut.

The company priced its initial public offering below expectations late Wednesday, raising $90 million.

Global Geophysical Services Inc., based in Houston, and its stockholders sold 7.5 million shares to initial investors for $12 apiece. The IPO had been expected to price 9.5 million shares at $15 to $17 each.

The proceeds, which will be about $76.4 million after expenses, will be used to pay down debt and for capital expenditures.

The shares are up 5 cents to $12.05 on the New York Stock Exchange. Earlier the stock fell, trading as low as $11.56. The shares trade under the symbol "GGS."

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Shares of Global Geophysical Services, which provides seismic data services to oil and gas companies, are rising in their IPO debut.The company priced its initial public offering below expectations late Wednesday, raising $90 million.Global Geophysical Services Inc., based...
US,Global,Geophysical,Services,IPO,Mover
121
2010-17-22
Thursday, 22 April 2010 10:17 AM
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