Finance History | Nasdaq MarketSite — Twenty-One to Twenty-Four Dollars for a Baltimore Fund Book Called TROW
· 1986-4
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Finance History | Nasdaq MarketSite — Twenty-One to Twenty-Four Dollars for a Baltimore Fund Book Called TROW
kevin
People treat T. Rowe Price Group as a Baltimore asset manager that always printed TROW after a finished Nasdaq book.
The first cash offering is dated.
A New York Times report dated 19 February 1986 records that T. Rowe Price Associates filed with the Securities and Exchange Commission for an initial public offering of 1.3 million common shares, about 18 percent of the firm, at a contemplated range of 21 to 24 dollars a share in 1986 currency.
The firm's later investor materials date the completed offering to 2 April 1986.
Management and existing holders were to keep about 6.97 million shares.
The present tape is TROW on the Nasdaq Global Select Market.
The mechanism is a priced cash initial public offering of a no-load fund manager, not a New York floor listing.
The pin is the public Times Square facade of Nasdaq MarketSite, the street marker used for the TROW tape.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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