KPMG Consulting Cuts Number of Common Shares
The much-anticipated Initial Public Offering (IPO) for KPMG Consulting made the news again yesterday when the firm announced it would reduce the number of common shares that will be made available in the initial sale.
The original number of shares was 367.1 million, and now the number is down to 354.6 million. The price of the shares, however, will remain unchanged at a range of $6.75 to $8.75 a share.
It still is unknown exactly when the IPO will occur, although the firm has received clearance from Nasdaq to trade under the symbol "KCIN."
The sale solidifies the break between KPMG Consulting and its parent company, KPMG. For more information, consult the complete story.