Alliance Raises Less Than Expected in IPO
Bloomberg News
Kohlberg Kravis Roberts & Co.’s Alliance Imaging Inc. raised $122 million in its initial public offering, less than the company had planned.
Alliance, which provides magnetic resonance imaging devices and services to hospitals, sold 9.38 million shares at $13 on Thursday night, below its anticipated $15 to $17 range. Deutsche Banc Alex. Brown and Salomon Smith Barney managed the sale.
It was the second attempt by KKR, the New York-based buyout firm, to take Alliance public. It withdrew a filing this year and revamped the sale this month.
The shares, which trade under the symbol AIQ, closed at $13.15 in NYSE trading Friday.
