Bloomberg Names Morgan Stanley Most Successful High-Tech IPO Underwriter
In its August 1998 issue, Bloomberg magazine ranked Morgan Stanley Dean Witter as the most successful underwriter for the period June 1, 1997 through June 1, 1998, noting that "technology companies want underwriters that understand their business models, and they want underwriters that provide additional services after the offering takes place."
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In its August 1998 issue, Bloomberg magazine ranked Morgan Stanley Dean Witter as the most successful underwriter for the period June 1, 1997 through June 1, 1998, noting that "technology companies want underwriters that understand their business models, and they want underwriters that provide additional services after the offering takes place."
Morgan Stanley underwrote nine IPOs from June 1, 1997, to June 1, 1998 a dollar volume total of over US$1.04 billion. Bloomberg cited Morgan Stanley's advisory role in Broadcom Corp.'s April 1998 IPO, which reaped Broadcom $80.7 million in proceeds from the transaction, as an "example of the impact a sell-side analyst can have in setting an IPO's tone."
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