Ziff-Davis, New York, went public today selling 25.8 million shares at $15.50 each to gross $400 million in one of the year's biggest offerings. The tech media and trade show company's stock opened on the New York Stock Exchange at $17.13 and peaked at $19 before easing back to $17.94 at mid-afternoon. Japanese parent Softbank Corp. reduced its stake to 74% with the sale. Ziff-Davis Chairman-CEO Eric Hippeau opened trading on the exchange. "Ringing the opening bell of the New York Stock Exchange was certainly the most exciting day of my professional life," Mr. Hippeau said.
Copyright April 1998, Crain Communications Inc.