In a sign of solid investor demand, IPC sold 5.2 million shares (0.5 million shares more than expected) at $16, the mid-point of its proposed $15-$17 range. IPC provides hospitalist services to over 300 hospitals in 16 states and sees strong opportunities for growth in its emerging field. Credit Suisse and Jefferies acted as joint book-running managers for the IPO, and the stock is set to begin trading on the NASDAQ under the ticker symbol "IPCM" on Friday.
