Ranked By Gross Proceeds | ||||
Underwriter | Gross | |||
(Number Of IPOs As Lead/ | Proceeds | |||
Number Of IPOs As Lead Or | (M) | |||
Comanager) | ||||
Lehman Brothers (3/3) | $113.3 | |||
Merrill Lynch & Co. (1/1) | $101.2 | |||
Morgan Stanley, Dean Witter Discover & Co. (2/2) | $94.1 | |||
UBS Securities LLC (2/4) | $68.0 | |||
Hambrecht & Quist LLC (3/7) | $67.9 | |||
Dresdner Kleinwort Benson Ltd. (1/1) | $67.7 | |||
BT Alex. Brown Inc. (1/3) | $41.5 | |||
NationsBanc Montgomery Securities Inc. (1/3) | $34.5 | |||
Salomon Brothers Inc. (1/1) | $32.4 | |||
BancAmerica Robertson, Stephens (1/3) | $26.8 | |||
Cowen & Co. (1/2) | $22.8 | |||
Paulson Investment Co. Inc. (1/1) | $20.7 | |||
CIBC Oppenheimer Corp. (1/1) | $18.4 | |||
Everen Securities Inc. (1/1) | $18.0 | |||
Nutmeg Securities Ltd. (1/1) | $16.2 | |||
First Marathon Securities Ltd. (1/1) | $15.4 | |||
Sunrise Securities Corp. (1/1) | $14.4 | |||
National Securities Corp. (1/1) | $7.3 |
* After-market performance is expressed as the percent change in stock price between the IPO price and the closing price on 12/31/97. For underwriters with multiple offerings, the after-market performance (as a percent change) was calculated for each stock in that underwriter's "group," the percentages summed, and then averaged.