Attleboro, MA-based Sensata Technologies says it begins trading on the New York Stock Exchange today after completing its initial public offering yesterday at $18 per share. The IPO was priced at the low end of the proposed $18 to $20 range. Yet the 31.6 million shares sold in the maiden offering raised a total of $568.8 million. Sensata Technologies (NYSE:[[ticker:ST]]), a maker of sensors for the auto industry as well as switches and controls for lighting and heating systems, is incorporated in The Netherlands but has its headquarters in Massachusetts. The Sensata business, which has roots that date back to 1916, is a former unit of Texas Instruments that was purchased in a leveraged buyout led by Boston-based Bain Capital in 2006.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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