Luxfer Holdings rises in market debut

Oct 3 (Reuters) - American Depository Shares of LuxferHoldings Plc , a British maker of high-performancematerials and gas cylinders, rose 17 percent in their marketdebut, a day after the company priced its initial publicoffering below its expected price range.

The company priced its IPO of 8 million ADSs at $10 each,significantly below its expected price range of $12 and $14 perADS, raising $80 million.

Salford, England-based Luxfer makes products and componentsin aluminium, magnesium, zirconium, rare earths and othermaterials. Its products include specialty chemicals,photo-sensitive plates, high-pressure cylinders and metalpanels.

The company, which is backed by Barclays and AvenueCapital Group, among others, postponed its IPO plans in Decemberciting market conditions.

Credit Suisse, Jefferies, KeyBanc Capital Markets andOppenheimer & Co were jointly underwriting the IPO.

Real estate investment trust Javelin Mortgage InvestmentCorp , which also debuted on the New York Stock Exchangeon Wednesday, opened below its IPO price of $20.

Javelin had increased its float to 7.25 million shares.

ADSs of Luxfer were at $11.45 in morning trading on the NewYork Stock Exchange. Shares of Florida-based Javelin Mortgagewere down at $19.68.

(Reporting by Neha Dimri in Bangalore; Editing by Maju Samuel)

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Keywords: LUXFERHOLDINGSPLC IPO/DEBUT