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Banking, finance, and taxes

IPO Filing: Duff & Phelps

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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