Having Eked Out Slim Profit, SS&C Launches Partial IPO
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As expected (IMT, April 12), Bloomfield, Conn.-based SS&C Technologies (until recently known as Securities Software & Consulting) has issued a roughly 30 per cent initial public offering, putting some 3.75 million common shares up for sale on Nasdaq. The IPO began trading last week with shares opening at $19. SS&C plans to use the money raised from the IPO for working capital and general corporate purposes. The underwriters for the IPO are Alex. Brown & Sons and Hambrecht & Quist.
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