Accenture Ready to Launch IPO
Accenture, the consultancy firm that split off from Arthur Andersen, is primed for its initial public offering, scheduled for Wednesday of this week.
The firm hopes to gain about $1.6 billion from investors who will purchase up to 20 percent of the consultancy giant for $13 to $15 per share.
Analysts are predicting the IPO will turn into a good long-term investment, in spite of a lackluster economy and the somewhat disappointing performance of shares in KPMG Consulting, which went public earlier this year.
KPMG Consulting, trading as KCIN, closed last Friday at $14.45, down nearly 20 percent from its initial offering price of $20 per share.