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Verso Paper Prices IPO

Verso Paper Corp., a Memphis, Tenn.-based producer of coated papers, raised $168 million by pricing 14 million shares at $12 per share.The company had originally planned to sell 18.75 million shares at between $16 and $18 per share, and saw its stock close down 17% at $10 per share. The company is trading on the NYSE under ticker symbol VRS, with Citi and Credit Suisse served as co-lead underwriters. Verso is wholly-owned by Apollo Management.