Young & Rubicam, Genesis Complete IPOs

Share this article:
Two companies involved in direct marketing have completed initial public offerings in the past few days, drawing strong to moderate response from investors.


Young & Rubicam Inc., New York, the parent of Wunderman Cato Johnson Worldwide, successfully offered 16.6 million shares at $25 each for a total of $415 million on May 12. The stock opened on the New York Stock Exchange at $28.0625, a 12 percent premium on its offer price.


Meanwhile, cataloger Genesis Direct, Secaucus, NJ, raised $167 million through the sale of 11.1 million shares at $15 each on May 8. Investor interest was modest with stock opening at $15.50, a 3 percent premium on its offer price.


Separately, Genesis Direct launched its 31st catalog earlier this month. The Romance Boutique offers romantic gifts and collectibles.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Agency

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Publicis Constructs Pan-Agency Marketing Platform With Adobe

Publicis Constructs Pan-Agency Marketing Platform With Adobe

Riding on the Adobe Marketing Cloud, the Always-On Platform aims to unite all Publicis Agencies around delivering cross-channel efficiencies to clients.

Mohegan Sun Bets on an Integrated Customer Experience

Mohegan Sun Bets on an Integrated Customer Experience

Casino and entertainment destination Mohegan Sun went all-in and overhauled its website to improve its guest experience online and on-site. The casino's payoff was big.

Former Lenovo Executive to Head Digital Marketing at Interakt

Former Lenovo Executive to Head Digital Marketing at ...

Elijah Degen brings 15 years of experience to his new role at the digital agency.