October 13, 2004...8:20 am
GuruNet, Huron Consulting complete IPOs
Online reference library provider GuruNet Corporation completed a moderatly successful initial public offering, now trading on the American Stock Exchange under the symbol “GRU”. Those wanting to peruse the press release can do so here. It opened slightly above its offering price of $5.00 per share, at $5.19.
Elsewhere, Huron Consulting Group Inc. completed an IPO on the Nasdaq under the symbol “HURN”. Huron was formed by former Arthur Andersen partners and management, in conjunction with private equity investors such as Lake Capital Partners and Lake Capital Management, who felt that a financial and corporate consulting company should be separate from a public company accounting firm. Hrm, sounds a little bit like Accenture, which was formerly known as Andersen Consulting and spun-off in an IPO from Arthur Andersen, or BearingPoint, which used to be KPMG Consulting and later spun-off. Shares of Huron priced at the high end of its range at $15, opened at $18.50, and now trade at $19.50. Wow.
Also on deck in the IPO market: DreamWorks Animation SKG, contextually-targeted advertising specialist Interchange (owner of the ePilot Advertising Network), and Shopping.com have all set the price range and terms of their offerings. They’re expected to debut in the next week or two.
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