Artisan Partners shares are trading on the NYSE

Milwaukee-based Artisan Partners Asset Management Inc. said its public offering of 4.8 million Class A common shares has been priced at $56 per share.

The stock sale is expected to close Nov. 6.

The stock was trading on the New York Stock Exchange this morning at $58.75 per share.

The money management firm intends to use all of the net proceeds of the offering to purchase shares of its convertible preferred stock and preferred units of its subsidiary, Artisan Partners Holdings LP, from private equity funds controlled by Hellman & Friedman LLC.

Artisan said it has granted the underwriters an option to purchase up to 720,000 additional shares at the public offering price, minus underwriting discounts and commissions.

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