Accenture Files $1 Billion IPO
Not wanting to waste any time, the underwriting team of Goldman, Sachs & Co. and Morgan Stanley filed a registration statement with the Securities and Exchange Commission to raise approximately $1 billion in an Accenture initial public offering.
The number of shares to be offered and price per share is not disclosed in the registration statement.
Last year, Accenture (formerly Andersen Consulting) won a bitter fight for its independence from Big Five firm Andersen (formerly Arthur Andersen). Hoping to take advantage of recent rallies in the stock market, the consultancy firm hopes to go public in early May.
Rather than alluding to financial problems or other negative reasons for the public offering, Accenture announced with its SEC filing that it hopes to "improve the way the world works and lives."