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updated 11/12/2010 12:02:11 PM ET 2010-11-12T17:02:11

Sensata Technologies Holding N.V. said Friday that it priced a secondary offering of 20 million shares at $24.10 each.

The Dutch company said the shares are being sold by existing shareholders, and it will not receive proceeds aside from those tied to options exercised by some shareholders.

Morgan Stanley, Barclays Capital, Goldman, Sachs & Co., BofA Merrill Lynch and JPMorgan are acting as joint book-running managers for the offering. Citi, BMO Capital Markets and RBC Capital Markets are acting as co-managers.

Underwriters have a 30-day option to purchase up to an additional 3 million shares to cover overallotments.

Sensata was the sensors and controls unit of Texas Instruments until it went public in March.

The company's stock rose $1.24, or 5 percent, to $25.44 in late morning trading Friday.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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