Artio Global Investors Inc.'s (ART) initial public offering of 23.4 million shares priced at $26 a share Wednesday, within the expected per-share price range of $24 to $26, making it one of the largest U.S. offerings this year.

The U.S. fund manager is a unit of Swiss private bank Julius Baer Holding AG (JBHGY). The IPO is part of Julius Baer's decision to split its bank and asset-management businesses.

Artio, which postponed its listing several times, is going public after a brutal period in the world's stock markets, which has brought down its profits and assets under management. As of June 30, those assets totaled $46.8 billion, down 38% from the end of 2007.

Artio will use proceeds from the sale to repurchase half of the 70% stake that Julius Baer holds in the company, as well as 4% owned by the asset manager's founders, Richard Pell and Rudolph-Riad Younes.

Once the various steps of the offering and share sales are completed, about 39% of Artio will be held by the public. The company will be listed on the New York Stock Exchange under the symbol ART.

As many as five companies could make their U.S. trading debuts this week, which would make it the most active week since December 2007, when nine IPOs priced. Most bankers expect between 15 and 20 more offerings through the end of December, roughly equal to what has priced so far this year.

Earlier Wednesday, new real estate investment trust Colony Financial Inc.'s IPO of 12.5 million shares priced at $20 a share, its expected price, after its size was cut in half earlier in the day.

Other IPOs expected to price Wednesday are for rechargeable lithium-ion battery developer A123 Systems Inc. and Apollo Commercial Real Estate Finance Inc.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com