• Most Popular
  • Most Shared

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

Wed Oct 24, 2007 11:40pm EDT

Stocks

   

(Corrects assets managed by Pzena to $28.9 "billion" from $28.9 "million")

Stocks  |  Funds News

NEW YORK, Oct 24 (Reuters) - Pzena Investment Management Inc, (PZN.N) 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), UBS (UBSN.VX) and Banc of America (BAC.N), 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)

Stocks
Funds News


More from Reuters

Photo

Obama will not rush Afghan troop drawdown

OSLO (Reuters) - There will be no "precipitous drawdown" of U.S. forces in Afghanistan and U.S. troops could still be in the country for years to come, President Barack Obama said on Thursday.

» More Top News
A security personnel stands guard near oil pipelines at Tawke oil field near Dahuk, 400 km (245 miles) north of Baghdad May 9, 2009. REUTERS/Azad Lashkari

Now or never for Big Oil

The pressure's on for oil giants looking to secure rare access to cheap Middle East reserves as Iraq gears up to auction off some of the world's largest untapped oilfields.  Full Article 

Energy
A glass of tap water is served at a restaurant in New York June 10, 2009 REUTERS/Shannon Stapleton

G7 glass half empty

Recovering from a punishing global recession has forced the world's richest nations to pay dearly, prompting subdued growth prospects and delayed sighs of relief.   Full Article 

Global markets