Prime Brokers Lock It In

Friedlander, Josh
November 2004
Investment Dealers' Digest;11/1/2004, Vol. 70 Issue 42, p7
Trade Publication
The article presents information on the prime brokerage industry. The lucrative prime brokerage industry has the newer entrants jumping all over themselves to take market share away from the top guns that control the majority of the business. IDSs don't look nearly as attractive as they did when yields were thought to be a lot lower. With nearly $20 billion of IDSs trapped in the pipeline for the last year, bankers had hoped the floodgates would open when the U.S. Securities and Exchange Commission finally gave its stamp of approval to the structure for the October 2004 IPO of B&G Foods Inc., which used the IDS structure. Instead, with the IPO market finally picking up speed and aftermarket performances strengthening, investors no longer feel the same sense of desperation that previously plagued the market.


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