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CORRECTED - CORRECTED-Pzena Investment IPO raises $109.8 mln, top of range

Wed Oct 24, 2007 11:40pm EDT
 
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(Corrects assets managed by Pzena to $28.9 "billion" from $28.9 "million")

NEW YORK, Oct 24 (Reuters) - Pzena Investment Management Inc, (PZN.N: Quote, Profile, Research, Stock Buzz) a New York-based money manager with $28.9 billion in assets under management, raised $109.8 million on Wednesday with an initial public offering that priced at the top of expectations.

The 6.1 million share offering priced at $18 per share, compared with a forecast range of $16 to $18, according to a syndicate source.

Underwriters, led by Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz), UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) and Banc of America (BAC.N: Quote, Profile, Research, Stock Buzz), have the option to purchase an additional 915,000 shares to cover overallotments, according to an amended filing with the U.S. Securities and Exchange Commission.

(Reporting by Lilla Zuill)

 

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