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The initial public offering of Julius Baer Holding AG's (BAER.VX) U.S. fund manager Artio Global Investors Inc. (ART) was priced at the top of its expected range, valuing the issue at over $600 million and putting it among the largest U.S. offerings this year.

Amid signs of the market's renewed appetite for IPOs, Artio will offer 23.4 million shares at $26 each, compared with the expected $24-$26 range.

The IPO is part of Julius Baer's decision to split its bank and asset management businesses.

Artio's going public was postponed several times after a brutal period in the world's stock markets, which has brought down its profit and assets under management.

The $26 price shows there has been good demand and that Julius Baer is on track with its split-up plan, Bank Sarasin analyst Rainer Skierka said. He has a buy rating on Julius Baer.

On the Swiss bourse, Julius Baer shares were indicated to open slightly lower Thursday alongside most Swiss blue chips. They closed at CHF57.05 Wednesday, having gained 43% so far this year.

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.

On 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.

Company Web site: www.juliusbaer.com

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

(Goran Mijuk in Zurich contributed to the article.)