Reuters: Global Markets: Empire State IPO prices at $13 per share, low end of range: source

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Empire State IPO prices at $13 per share, low end of range: source Oct 1st 2013, 23:45 Tweet Share this Email Print Related Topics Hot Stocks » Asian Markets » Storm clouds pass over the top of the Empire State Building in New York, June 13, 2013. Credit: Reuters/Lucas Jackson By Ilaina Jonas NEW YORK | Tue Oct 1, 2013 5:21pm EDT NEW YORK (Reuters) - The company that owns New York City's Empire State Building skyscraper priced its initial public offering at $13 a share on Tuesday, an underwriting source said, a price on the low end of the expected range of $13 to $15 a share. At that price, Empire State Realty Trust Inc ESRT.N raised $929.5 million by pricing 71.5 million shares as planned. Bank of America Corp (BAC.N) and Goldman Sachs & Co (GS.N), were lead bankers on the deal. The shares are expected to trade Wednesday under the symbol "ESRT" on the New York Stock Exchange. The landmark building in Manhattan opened in 1931 during the Great Depression. At 102 stories, it stood as the world's tallest building until its lost its title in 1972 to the World Trade Center's North Tower. The realty trust also owns other buildings in Manhattan and Connecticut. (Reporting by Ilaina Jonas; Editing by David Gregorio) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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