Mistras Group shares rise on first day of trading

Mistras Group Inc. stock rose Thursday, its first day of trading, after the engineering services company priced its initial public offering of shares at a price below its initial target.

The Princeton Junction, N.J., company said Wednesday that 8.7 million shares will be offered at $12.50 per share. That would raise $108.8 million before expenses related to the offering.

Mistras initially indicated it would price its shares at $14 to $16 per share, which would have yielded up to $139.2 million before expenses.

The company provides nondestructive …