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Anthem IPO surges 14%
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October 30, 2001: 11:17 a.m. ET
Week's biggest IPO gains on NYSE after selling 48M shares at $36 via Goldman.
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NEW YORK (CNNmoney) - Anthem Inc., the week's biggest initial public offering, gained nearly 14 percent on the New York Stock Exchange Tuesday.
Shares of Anthem (ATH: up $4.90 to $40.90, Research, Estimates) closed at $40.90, for a gain of $2.90 on the Big Board.
Anthem's debut continues a string of strong performance for new issues. Last week, three IPOs opened to solid gains. Principal Financial Group Inc. rose nearly 14 percent on Oct. 23. Two days later, Cross Country Inc. (CCRN: down $0.25 to $20.00, Research, Estimates) gained 19 percent while Penn Virginia Resources Partners LP (PVR: up $0.28 to $23.09, Research, Estimates) added 8 percent in its debut.
At $1.7 billion, Anthem is still smaller than Principal Financial Group (PFG: up $0.84 to $22.04, Research, Estimates) which last week raised $1.85 billion.
Anthem sold 48 million shares at $36 each via lead underwriter Goldman Sachs late Monday. Anthem had boosted the size of its deal Monday to 48 million shares from 40 million with a price range of $33-to-$37 each.
Indianapolis-based Anthem, one of the nation's largest benefits firms, offers health insurance and services to more than seven million customers under the Blue Cross/Blue Shield names. Anthem targets customers in Indiana, Kentucky, Ohio, Connecticut, New Hampshire, Maine, Colorado, and Nevada. 
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