Posted by: Aaron Pressman on June 28, 2006
Score one for the good guys. J. Crew (JCG) priced last night at $20 a share, $3 above the high end of its filed ranged, and opened today up 25% to $25.05. It’s the sort of healthy pop that gives IPOs a good name without leaving obscene amounts of money on the table/in the pockets of big funds that got shares to flip. As I mentioned the other day, LBO owners Texas Pacific Group are putting $73 million INTO the company concurrent with the IPO. An unusual show of faith.