West Corporation, a PE-backed communication services company, has priced its IPO at $20 per share. The stock now trades on the NASDAQ Global Select Market under the symbol WSTC. West is offering 21.275 million shares in the offering; the $20 price was below its initial expected range of $22 to $25. Investors Thomas H. Lee Partners and Quadrangle Group back the company. As a result of the offering, THL's 58.4% stake in the company was reduced to 43.5% on a fully diluted basis; Quadrangle's 12.1% position was reduced to 9.1%. Based in Omaha, NE, West provides communication solutions like conferencing services, event services, IP communications and alerts and notifications to clients across several industries. Its stock closed its first day of trading at $18.86.
