NEW YORK (AP) – Shares of Dice Holdings Inc., a provider of specialized employment Web sites, gained on their first day of trading Wednesday, after the company's IPO priced at $13 per share — the top of the anticipated range.
Dice had expected the IPO to price between $11 and $13 per share.
Dice shares gained 40 cents, or 3.1 percent, to close at $13.40. The stock, which opened at $14.50, traded between $13.02 and $14.98 Wednesday.
Of the 16.7 million shares sold through the IPO, Dice offered 6.7 million shares. A group of stockholders, including private equity firm General Atlantic LLC and private investment firm Quadrangle Group LLC, sold the remaining 10 million shares.
Dice said it plans to use its net proceeds to repay $32 million in outstanding debt and for working capital and general corporate purposes.
In fiscal 2006, the company reported losses after paying preferred dividends of $4.4 million on sales of $83.7 million.
Credit Suisse Securities and Morgan Stanley are serving as the offering's lead underwriters. JPMorgan, Lehman Brothers and Jefferies & Co. are also listed as underwriters.
The underwriters have been given an option to buy up to 2.5 million additional shares from the selling stockholders.
The New York-based company's shares are listed on the New York Stock Exchange under the symbol “DHX.”