IPO News Archive
Technology-enabled investment advisor Financial Engines sets IPO terms
2/22/10
Financial Engines, which provides technology-driven investment advice for employer-sponsored retirement plans, announced terms for its IPO on Monday. The Palo Alto, CA-based company plans to raise $109 million by offering 10.9 million shares at a price range of $9-$11, with 5 million shares to be offered by stockholders. At the mid-point of the proposed range, Financial Engines will command a market value of $433 million. Financial Engines was co-founded in 1996 by Nobel Prize recipient William Sharpe, Joseph Grundfest and Craig Johnson. It booked $85 million in sales in 2009 (up nearly 20% from the previous year) and plans to list on the NASDAQ under the symbol FNGN. Goldman Sachs and UBS Investment Bank are the lead underwriters on the deal, for which timing was not disclosed.
Source: www.RenaissanceCapital.com
Latest User Comments
BUY BUY BUY FNGN 3/16/2010 4:31:18 PM
Posted by: BEAVISnB
BUY BUY BUY FNGN BUY BUY BUY FNGN HUHUHUHUHUH...
.. I forgot to accept my alocations @ 12 :-( 3/16/2010 11:18:47 AM
Posted by: Starttra
.... For all those who did, you rock !!! $$$...
Solid performance? 3/16/2010 9:33:14 AM
Posted by: Opul
Predictions on how Financial Engines will perform today? First IPO to price above the range in quite some time......
Competes with Stock Brokers? 3/5/2010 7:00:39 PM
Posted by: polopony
How does this firm make so much when it is competing with the major brokerage firms?...
Nobel Laureate William Sharpe''s deal 3/5/2010 5:06:44 PM
Posted by: rosietra
This should be a good deal....