‘Tepid response’ to Roundy’s initial public offering of stock

Shares of Roundy?s stock began trading on the New York Stock Exchange on Wednesday and ended the day up 50 cents, at $9 a share. The Milwaukee grocery company offered 19.2 million shares of common stock in its initial public offering on the New York Stock Exchange, under the symbol RNDY. Shares were priced at $8.50, which was below the $10 to $12 price projected in a company document filed with federal regulators in January. That signifies “tepid response from the marketplace” to the offering, said Jim Seward, associate professor at the UW-Madison School of Business and faculty director of the Nicholas Center for Corporate Finance and Investment Banking.