Baton Rouge-based Edgen Group Inc. has completed its initial public offering, netting $150.4 million after expenses for 15 million shares of stock.
The stock was priced at $11 per share. Edgen plans to use the money to pay down its debt.
The underwriters have until May 26 to buy an additional 2.3 million shares.
Edgen’s stock began trading on the New York Stock Exchange on April 27 under the symbol “EDG.”