Aug
13
Houlihan Lokey, Boutique Investment Bank, Fizzles in I.P.O. Pricing
ByA swell of mergers and other transactions this year has bolstered the fortunes, and stock prices, of several independent and boutique investment banks.
That has not necessarily translated into enthusiasm for another advisory firm seeking to join the public markets.
Houlihan Lokey priced its initial public offering on Wednesday below expectations, raising $220 million in its stock sale. Its shares were offered at $21 each, a dollar below the expected range, and it sold fewer shares than initially anticipated.
That stock price values the investment bank at about $1.4 billion…
Houlihan Lokey, Boutique Investment Bank, Fizzles in I.P.O. Pricing
