BGC Partners Prices Secondary (BGCP)

Banking, finance, and taxes

Published: June 6, 2008 7:32 am

Last Updated: March 26, 2020 11:48 am

BGC Partners, Inc. (NASDAQ: BGCP) priced its public secondary offering of 820 million shares at $8.00 per share.

According to the company, 10,000,000 of these are primary shares, 3,926,178 of which are secondary shares being sold by Cantor Fitzgerald, L.P., and 6,073,822 of which are secondary shares being sold by limited partners of Cantor Fitzgerald, L.P., and founding partners of BGC Holdings, L.P.

Joint book-running managers are listed as Deutsche Bank and Cantor Fitzgerald; co-lead managers are Wachovia Securities and BMO Capital Markets; and co-managers are Keefe Bruyette & Woods and CastleOak Securities. The underwriters were granted an option to purchase up to 3,000,000 additional shares for 30 days after offering.

Its market cap was listed as $589 million. This is a 1% discount to yesterday’s $8.08 close and down from $9.00 just 5 days ago. Its 52-week trading range is $7.02 to $12.97.

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Jon C. Ogg
June 6, 2008

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