Nabisco Offering Declared A Success
The success of Nabisco Holdings Corp.’s $1.1 billion initial sale of stock has reassured many on Wall Street that investors still have an appetite for such deals.
“The success of Nabisco Holding’s offering is continued testimony to the strength of the IPO market,” said Linda Killian, an analyst at the investment research firm Renaissance Capital.
The initial public offering, or IPO, of the company was one of the most sought after stocks on Friday. Priced Thursday at $24.50 each, Nabisco Holdings shares climbed to $26.87-1/2 by the close of trading Friday as the most active issue on the New York Stock Exchange.