Pandora IPO Pressures Sirius XM Shares

(TheStreet) -- Pandora

debuts on the New York Stock Exchange Wednesday pressuring Sirius XM

shares. The Internet radio company's initial public offering was priced at $16 a share, significantly more than its indicative range of $10 to $11 a share. The company raised $235 million, selling 14.7 million shares. The deal values Pandora at $2.6 billion.

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