Neff prices IPO at $15, below the range

Neff, which rents heavy equipment in the Sunbelt region, raised $157 million by offering 10.5 million shares at $15, below the range of $20 to $22. Neff plans to list on the NYSE under the symbol NEFF. Morgan Stanley, Jefferies & Co., Piper Jaffray and BofA Merrill Lynch acted as lead managers on the deal.