Shares of Livent Corp.
declined in their public debut, after the lithium producer’s initial public offering priced below expectations. The first trade was at $16.25 at 10:05 a.m. ET for 1.99 million share, or 4.4% below the IPO price of $17. The IPO was expected to price at $18 to $20 a share. The company sold 20 million shares to raise $340 million. The shares of declined since the open, and were recently shedding 5.3%. The company has gone public at a time that the Renaissance IPO ETF
has lost 10.5% over the past three months while the S&P 500
has gained less than 0.1%.
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