Penson Worldwide, which provides securities clearing and related services to broker/dealers and institutions, priced its IPO of 7.5 million shares at $17, the high end of its proposed $15 to $17 price range, on Tuesday night. Of the shares sold in the offering, 1.2 million were offered by insiders. JP Morgan and Credit Suisse were the lead underwriters on the deal. The stock is expected to begin trading on the NASDAQ under the ticker PNSN on Wednesday.
