Friday, May 26, 2006

Vonage Underwriters Abnormally Quiet

Lead underwriters of the recent Vonage IPO have been unusually quiet. Deutsche Bank, Citigroup and UBS, the lead underwriters who are normally quite quick to tout how a each offering is the first in a particular space, or largest or something else. Well come on guys, you now have an IPO with the largest ever opening drop, yet nary a press release.

Let's celebrate the issuing of Vonage (symbol VG) stock with their quasi-criminal background of its largest shareholder Jeff Citron and the lack of corporate subscribers which led to a last minute effort to push IPO shares to Vonage's customers.

Seems the underwriters of MasterCard's IPO don't have this quiet problem.


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