Duff & Phelps Corporation, has filed to come public in an IPO under the “DUF” ticker on the NYSE. The underwriting group is rather large with Goldman Sachs and UBS as lead underwriters and the co-managers are listed as Lehman Bros., William Blair, Keefe Bruyette & Woods, and Fox-Pitt Kelton.
D&F is a financial advisory and investment banking firm founded in 1932 that frequently specializes in mergers and restructurings. It claims 690 client service specialists in 21 cities with 15 being in the US. Its two segments are Financial Advisory and Investment banking, with 77% of gross revenues from its financial advisory unit and 23% coming from investment banking.
Investors will probably snap up shares, but it is worth noting that after the offering there will be A shares and B shares outstanding. 2006 revenues were $259.268 million with net income being $10.499 million.
Jon C. Ogg
May 24, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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