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

Banking, finance, and taxes

Published: September 28, 2007 9:58 am

Last Updated: March 26, 2020 3:34 pm

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:

IPO FILING: RiskMetrics Group, Inc.
IPO Filing: Turner Investments Inc.
When will the mortgage vulture fund Chimera come public?

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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