Finance History|11 Wall Street — Fourteen Fifty for One Hundred Fifteen Million Shares Called ACN
· 2001-7
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Finance History|11 Wall Street — Fourteen Fifty for One Hundred Fifteen Million Shares Called ACN
kevin
People treat Accenture as a Dublin consultancy that always printed ACN on a mature Big Board book.
The first public print was a Bermuda partnership selling a minority slice after leaving an accounting firm.
Accenture Ltd., the former Andersen Consulting, priced 115 million shares at 14.50 U.S. dollars on 18 July 2001.
The company's own investor FAQ still records that figure and the 19 July 2001 first trade.
Gross proceeds were about 1.67 billion U.S. dollars in 2001 currency, near the top of a 13-to-15 dollar range.
Goldman Sachs and Morgan Stanley led the books. The sold slice was about 12 percent of the equity.
Washington Technology recorded the first-session close at 15.17 U.S. dollars, up 4.62 percent from the offer.
The New York Times had already noted the contrast with KPMG Consulting, whose February 2001 book had slipped well below its 18 dollar offer by that week.
The letters on the tape were ACN.
The firm had changed its name from Andersen Consulting after the 2000 split from Arthur Andersen.
The pin is the Broad Street facade of the exchange that took the order. The trading floor is not a visitor gallery.
The mechanism is a partial listing that turned a private partnership into public currency without selling the whole book.
Photo: New York Stock Exchange, via the collection photograph already ingested for Big Board listings.
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