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Marketing Firm Goes Public as Allstate, Xerox Come Aboard
BOSTON–Digitas founder Michael Bronner and agency president Kathy Biro sipped champagne last Tuesday at the Nasdaq exchange in New York, while watching the impressive debut of the marketing-services company’s common stock.
Trading as DTAS on the Nasdaq exchange, the initial offer was $24 per share, about $5 higher than anticipated by underwriters led by Morgan Stanley Dean Witter.
The stock opened at $40, its high for the day, dipping to a low of $27 7/8 before closing at $29 1/2 on Tuesday.
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