Just Tell Us We Can't

KPMG bucks trend, makes IPO

February 8, 2001 --  Remember back in the murky, misty past, or roughly a year ago, when you couldn't read a business magazine or Web site without experiencing IPO overload? Almost every other story was about how usedstyrofoamcups.com's IPO had soared a gazillion percent in first-day trading.

Those days are long-gone, at least for now. In a shark-infested market, IPOs are scarcer than successful pet food Web sites. But at least one company thinks it has the financial equivalent of a shark cage. E-business integration company KPMG Consulting is offering 112,482,000 shares of its common stock at a per share price of $18. The shares will trade under the symbol KCIN on the Nasdaq National Market. Of the total shares offered, 31,826,583 shares were offered by KPMG Consulting and 80,655,417 shares were offered by KPMG LLP. Morgan Stanley Dean Witter is the lead underwriter for the offering.

Evidently, the folks KPMG know when to take the plunge. At time of this writing, KPMG was up six points from its opening price, a rise of 33 percent.