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IPO recovery eludes local public companies.

Publication: Westchester County Business Journal
Publication Date: 05-SEP-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: IPO recovery eludes local public companies.(Prestige Brands Inc., K and F Industries Inc. and Electro Optical Sciences Inc.'s securities )

Article Excerpt
Demand for shares of new public companies may indeed be heating up over the next few months and into 2006 as experts predict, but three Westchester businesses have yet to benefit from any recovery in the market for initial public offerings, or IPOs.

Two Westchester businesses that have gone public this year are trading at below their offering price and a third company looking to join them has lowered the offering price for its planned shares.

Shares of K&F Industries Holdings Inc. of White Plains, which completed its IPO on Aug. 12, closed last Monday at $17.01 a share, 3 percent below its initial $17.50 per share price and 8 percent below its high of $18.45.

And Prestige Brands Inc. of Irvington, a distributor of several over-the-counter medicines, household cleaners and personal-care products, finished last Monday...

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