In a sign of very strong demand, shoe designer Crocs priced 9.9 million shares (0.9 million shares more than expected) at $21, a 50% premium to its initially proposed range of $13-$15 and 8% above its recently upwardly revised range of $19-$20. Piper Jaffray and Thomas Weisel are acting as joint book-running managers for the IPO. The stock is expected to commence trading on the NASDAQ on Wednesday.
