|
 |
KPMG Consulting Increases IPO Shares WASHINGTON, D.C., Sept. 28, 2000 (SmartPros) KPMG Consulting has increased its initial public offering from some 324 million shares to 367,114,685, according to a filing with the Securities and Exchange Commission. According to Monday's filing, the public offering price will remain between $6.75 and $8.75 per share. KPMG Consulting said it is offering 59.2 million shares of common stock while the parent company, KPMG LLP, is offering 307.9 million shares. Immediately following the offering, KPMG LLP, the non-U.S. KPMG International member firms and their respective partners, will collectively own no more than 19.9 percent of the company's common stock. The company said it expects to use about $202.1 million of the proceeds from the offering to repurchase from Cisco Systems Inc. a portion of the Series A Preferred Stock that will not be converted into shares of their common stock. KPMG Consulting has applied to list the common stock on the Nasdaq Stock Market under the symbol KCIN. Morgan Stanley Dean Witter is managing the offering. -- SmartPros News Staff Send comments to information@smartpros.com 2000, Smartpros Ltd. All Rights Reserved. |
|
|
|||||||
|
||||||||||
|
|
||||||||||
|
||||||||||
