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:
close

Next Article in Agency

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

John Wanamaker Is Dead, Long Live the CMO

John Wanamaker Is Dead, Long Live the CMO

A century-old motto isn't—and shouldn't be—relevant today. CMOs need to get with the times and put their customer knowledge to good use.

Unleashing the True Power of the Customer

Unleashing the True Power of the Customer

Retailers who harness customer loyalty program data can create a customer-centric competitive advantage.

News Byte: Gartner Retail Expert Joins eCommera as CMO

News Byte: Gartner Retail Expert Joins eCommera as ...

Kevin Sterneckert brings a wealth of knowledge and experience to eCommera.