NEW YORK CITY — Shares of TV ratings and consumer research company Nielsen Holdings B.V. are up 9.8 percent on Wednesday after the company priced its initial public offering at a higher-than-expected $23 per share.
Nielsen’s is the biggest IPO since General Motors Co.’s public rebirth, which raised a total of $23.1 billion at the end of last year. The offering is being closely watched as a sign of investors’ appetite for a private-equity IPO with high debt levels.
Not long after the market opened, shares of the company are up $2.25, or 9.8 percent, to $25.25.
The offering includes 71.4 million shares, valuing the offering at $1.64 billion. Previously, the company said it expected shares to cost between $20 and $22 apiece.
The company said Wednesday it expects to raise $1.56 billion in net proceeds, which is less than expected.