(April 25, 2001) -- Ad network DoubleClick began trading shares of its Tokyo-based subsidiary, DoubleClick Japan, on the Nasdaq Japan Market today. Under the number 4841, the initial public offering of 23,456 ordinary shares of the stock was priced at 150,000 yen per share, or approximately $1,228. Total outstanding shares are $1,636. Nikko Salomon Smith Barney was the lead underwriter for the offering.
As a result of the IPO, DoubleClick Inc.'s ownership of DoubleClick Japan will be reduced from approximately 43.2% to 38.2% of the outstanding common shares. DoubleClick Japan will receive proceeds of $27 million, net of underwriting fees and expenses. -- Adrienne Mand
Copyright April 2001, Crain Communications Inc.