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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.