KPMG Raises Price, Cuts Shares for IPO
Reuters is reporting that KPMG Consulting Inc. has lowered the number of common shares it will offer in an initial public offering to 112 million from 354.6 million while raising the price range to $16-$18 apiece from $6.75-$8.75.
KPMG Consulting Inc., one of the world's largest consulting firms providing business and technology strategy, systems integration and other services, disclosed the IPO changes in a Securities and Exchange Commission filing on Thursday.
The company has yet to comment on the change in terms.
It was not immediately known when the IPO will debut, but the company has received approval for a Nasdaq listing under the symbol "KCIN" (KCIN.O).
KPMG Consulting will offer about 29 million of the 112 million IPO shares while its parent, KPMG LLP, will offer more than 83 million.
When the IPO is completed, the company said it will not be a member of KPMG International, the worldwide association of independent professional services firms that share the KPMG name.