Today (10/2/09) ECHO – Echo Global Logistics and EDMC – Education Management IPO’s opened for trading with EDMC definitely the strongest. See stats below..
ECHO – Echo Global Logistics
Shares Offered: 5.7M
Initial Range: $13-15
Date Priced: 10/02/09 (Fri)
Priced: $14.00
Opened: $13.30
Closed: $14.06 (+$0.06, +0.43%, down $0.09 in after-hours)
Lead Underwriters: Morgan Stanley and Credit Suisse
Description: Echo Global provides technology-enabled shipping and freight management services.
EDMC – Education Management
Shares Offered: 20.0M
Initial Range: $18-20
Date Priced: 10/02/09 (Fri)
Priced: $18.00
Opened: $20.50
Closed: $21.77 (+$3.77, +20.94%, up another $0.15 in after-hours)
Lead Underwriters: Goldman Sachs, JP Morgan, Banc of America Securities, Barclays Capital, Credit Suisse, Morgan Stanley and Piper Jaffray
Description: Education Management provides campus-based and online postsecondary education programs.
