The goal of the underwriters is to have the post IPO shares trade strongly and above the issuance price. I think given the relative weakness of tech recently (post TXN and INTC mid-quarter updates), the offering could be considered a success. The buyers thin out this time of year and if they had not got it done this week, it would have been put off until January.
I think like Freescale, the IPO was priced to let investors profit. If I can buy in at $12 tomorrow I will be a buyer.
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