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Briefing Note: This deal is in high demand and shares are likely to see a nice pop at the open. If it does pop, we\'d be hesitant to chase it. Recall that Fortress Investment (FIG 25.88), another recent private equity IPO, generated a lot of excitement but quickly faded. It priced at $18.50 on Feb 9, it opened at $35, then fell below $24 within a month. This is a 133.3 mln share deal led by Morgan Stanley and Citigroup. (IPOXX) |
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