Caesarstone Begins Trading on NASDAQ

NEW YORK – Caesarstone Ltd. began trading on the NASDAQ market March 22, with initial action sticking close to the $11 IPO price.

Click photo to enlargeAfter two days, the stock – trading under the ticker symbol of CSTE – closed Friday at $11.01, three cents below the day’s opening, with a trading volume of 821,433 shares.

The first day’s trading on Thursday ranged from $10.70 to $11.52.

The stock’s $11 IPO of approximately 6.7 million shares came in below the $14-$16 range noted by the company in its earlier filings with the U.S. Securities and Exchange Commission (SEC). The offering seeks to raise between $73 million-$74 million.

Firms managing the offering are J.P. Morgan Chase & Co., Barclays Capital Inc. and Credit Suisse Group.

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