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Banking, finance, and taxes

Duff & Phelps Gets A Welcome Mat From Wall Street (DUF)

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By Douglas A. McIntyre Updated Published
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Duff & Phelps Corporation (NYSE:DUF) priced its initial public offering of 8,300,000 shares of common stock at $16.00 per share, and Wall Street is greeting it with open arms.  This is a leading independent financial advisory and investment banking firm underwritten by Goldman Sachs and UBS as the lead underwriters and co-managers were Lehman Brothers, William Blair, Keefe Bruyette & Woods, and Fox-Pitt Kelton.  By having such a large underwriting syndicate this relatively small IPO should have ensured that it will have ample analyst covereage.

Shares opened at $17.00 and are now up at $18.75.  Interestingly enough, this should help give some good wind to some other pending IPO’s:

Jon C. Ogg
September 28, 2007

Jon Ogg can be reached at [email protected]; he produces the Special Situation Investing Newsletter and 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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