American Campus Communities, Austin, Texas, has priced an initial public offering of 12 million shares of common stock at $17.50 per share.The real estate investment trust, which focuses on the financing, development, and management of student housing, said the shares will trade on the New York Stock Exchange under the symbol ACC. Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the joint book-running managers of the offering. ACC said it has granted the underwriters an option to buy up to 1.815 million additional shares to cover any overallotments.
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