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Monday April 11, 05:47
Lazard sets price range of IPO
(by Dr.Goldfinger)

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Lazard sets price range of IPO Global investment bank Lazard set the price range for its initial public offering scheduled for 2005. The company’s IPO has already being named the most high-profile initial public offering.

With the price range of $25 to $27 a share and an offering size of 30.46 million shares, Lazard’s IPO is expected to be the biggest for an investment bank since Goldman Sachs’s IPO in the 1990s.

Lazard says it can get as much as $730 million in net proceeds from the offering. The bank filed to go public on December 17 and expects to top Greenhill & Co.’s $89-million IPO in May 2004.

The IPO is underwritten by Goldman Sachs, Citigroup, Merrill Lynch, Morgan Stanley, J.P. Morgan Chase and other major Wall Street financial institutions.

Lazard’s performance for the first quarter was reported strong with net revenue from merger and acquisition advisory fees up 64% compared with the same period of 2004.
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Read the related news and articles:
06 May 2005 09:11 AM Lazard gets $854.6 million in IPO, family-control era ended
04 May 2005 08:02 AM Lazard goes public, David-Weill disappointed
11 Apr 2005 08:12 AM LAZARD ANNOUNCED AN ESTIMATED PRICE FOR ITS IPO
20 Dec 2004 06:30 PM Lazard may go public after 156 years as private institution
03 Dec 2004 11:26 AM Lazard CEO has more time to complete initial public offering or quit
 


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