The GE-backed radio station and website operator had previously set a range of $14-$16 for the initial public offering.

Townsquare Media, a US-based owner and operator of several radio stations, raised $91.7m yesterday from its initial public offering.

The company issued 8.33 million shares priced at $11.00 each, well below the $14-$16 range it had set. Townsquare had initially targeted $143.8m when it filed for an IPO last month.

GE Capital, a financial subsidiary of conglomerate General Electric, retained the 3.2 million shares it owned before the IPO, while Oaktree and MSD Capital Management each kept hold of the…

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