(February 8 – 10:30 ET) – The first of the “Big Five” consulting firms to go public, KPMG Consulting, is making its trading debut on Nasdaq today.

KPMG Consulting will trade under the symbol KCIN. The Virginia-based firm is offering 112.5 million shares priced at US$18 a share for a total offering of more than US$2 billion, the second-largest IPO ever launched on Nasdaq. Morgan Stanley Dean Witter is underwriting the deal.

“We are very pleased that KPMG Consulting has chosen to list on Nasdaq,” said Wick Simmons, chief executive officer of Nasdaq. KPMG chief executive officer, Rand Blazer, opened trading on Nasdaq today and Simmons presented him with a Nasdaq Crystal Tower at today’s formal listing ceremony.

“We are proud that a leading management consultant to many of the companies already listed on Nasdaq has joined our family of growth-oriented stocks that are instrumental in shaping the direction of today’s global economy,” said Simmons.

KPMG Consulting, spun off from the accounting giant of the same name, boasts more than US$2 billion in annual revenues, generated by more than 9,100 professionals.
-IE Staff