By Michael Tsang
Feb. 10 (Bloomberg) -- QuinStreet Inc. cut the price of its initial public offering by as much as 21 percent in a deal that marked Frank Quattrone’s return to the IPO market.
The Internet advertiser advised by Quattrone sold 10 million shares, or 22 percent of the Foster City, California- based company, at $15 each after asking for as much as $19, a filing with the Securities and Exchange Commission and Bloomberg data showed. The IPO gives QuinStreet a market value of $674 million and it will begin trading tomorrow on the Nasdaq Stock Market under the ticker QNST.
Read more at Bloomberg Businessweek
No comments:
Post a Comment