E-Biz Stock Daily: Organic IPO Soars
3:27 PM EST Thu. Feb. 10, 2000
From the February 10, 2000 issue of CRN
Opening at $20 per share, the San Francisco-based company saw its stock soar $22.50 per share to $42.50 in early afternoon trading.
Organic is another Internet consulting firm hoping to follow in the footsteps of Web integrators Razorfish Inc. and Scient Corp.
Organic, which offers Web site design, consulting and software, raised the projected price range of the 5.5 million shares being offered to $20 from $12 to $14, indicating strong demand.
Ad giant Omnicom Group holds a 24.7 percent stake in Organic after after the IPO. The agency already owns significant shares in other e-service players, including Razorfish and Agency.com.
The offering was led by underwriter Goldman, Sachs & Co.
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