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HolidayBuyer's Guide
Tech Industry

Luminant Worldwide prices at $18 a share, cuts offering in half

Luminant Worldwide Corp. (Proposed ticker: LUMT) priced its shares at $18 a share late Wednesday, slightly above its original price range of $15 to $17 a share.

Luminant, which provides Internet and e-commerce services to Fortune 500 companies, cut the number of shares that will be offered in half from 10.5 million shares to 5 million shares.

Former CBS honcho Michael Jordan serves as Luminant's chairman and will own about 4 percent of the company following Thursday's IPO.

Formerly known as Clarant, Luminant Worldwide lost $111 million last year on sales of $54.8 million.

Deutsche Banc Alex. Brown will serve as lead underwriter.