TMS Sells Fewer Shares Than Expected

TMS International Corp., which is majority owned by buyout shop Onex Corp., sold fewer shares than expected at a price below the proposed range in its IPO, Reuters reported. The company sold 11.2 million shares for $13 each, raising $145.6 million in the offering, Reuters reported. TMS and a group of its stakeholders had planned to sell 6.25 million shares each for $15 to $17 each.

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