Duff & Phelps Gets A Welcome Mat From Wall Street (DUF)

Duff & Phelps Corporation (NYSE:DUF) priced its initial public offering of 8,300,000 shares of common stock at $16.00 per share, and Wall Street is greeting it with open arms.  This is a leading independent financial advisory and investment banking firm underwritten by Goldman Sachs and UBS as the lead underwriters and co-managers were Lehman Brothers, William Blair, Keefe Bruyette & Woods, and Fox-Pitt Kelton.  By having such a large underwriting syndicate this relatively small IPO should have ensured that it will have ample analyst covereage.

Shares opened at $17.00 and are now up at $18.75.  Interestingly enough, this should help give some good wind to some other pending IPO’s:

• IPO FILING: RiskMetrics Group, Inc.
• IPO Filing: Turner Investments Inc.
• When will the mortgage vulture fund Chimera come public?

Jon C. Ogg
September 28, 2007

Jon Ogg can be reached at [email protected]; he produces the Special Situation Investing Newsletter and does not own securities in the companies he covers.