Finance History|Nasdaq MarketSite — Fourteen Dollars for a Medicaid Book
· 2001-12
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Finance History|Nasdaq MarketSite — Fourteen Dollars for a Medicaid Book
kevin
People treat Centene as a St. Louis managed-care house that always printed CNC on the Big Board.
The 2001 issuer listed first on Nasdaq as CNTE.
The company's own release dated 13 December 2001 announced an initial public offering of 3,500,000 shares at 14 dollars each.
Of those, 3,250,000 came from the company and 250,000 from a selling stockholder.
A later earnings release recorded net proceeds of approximately 41.0 million dollars in 2001 currency from the 3,250,000 new shares.
The company said it would repay 4.0 million dollars of subordinated notes and keep the rest for working capital and acquisitions.
Year-end 2001 membership was given as 235,100 lives. Full-year 2001 revenue was 326.6 million dollars in 2001 currency.
On 16 October 2003 the same common line left Nasdaq and opened on the New York Stock Exchange under CNC.
The mechanism is a small Medicaid HMO selling a primary float after the 2000-01 technology break, then moving the tape from an electronic market to a floor market two years later.
The pin for the first print is the public facade of Nasdaq MarketSite at 4 Times Square. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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