Dolan Media Company (NYSE: DM) saw a staggering surge of more than 20% in its market debut Thursday. Shortly before 3:30 p.m., Dolan shares were fetching $17.55, gaining more than $3 from its $14.50 offering price and beating expectations that topped out at $15.50. The offering totaled 13.5 million shares, 3 million more shares than expected.
Dolan Media Company is a Minneapolis- based business news publisher operating numerous print and online publications circulating mainly throughout the East Coast and Midwest . The company also provides many different business services for law firms, financial and real estate markets. Dolan Media was founded in 1992 by Jim Dolan and Cherry Tree Investments.
Major mover: Dolan Media Company (DM) jumps in debut
Posted Aug 2nd 2007 3:12PM by Tracy Lapa
Filed under: Major movement, Initial public offerings
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