Ten days after its IPO, shares of DuPont Fabros (DFT) are trading close to the initial offering price of $21 a share. The company's executives apparently think that's a bargain, and have been buying shares. Chief executive and president Hossein Fateh and executive chairman Lammot J. du Pont each bought 47,600 shares of stock at $21 a share, spending about $1 million each, according to Securities and Exchange Commission filings last week. DuPont Fabros closed yesterday at $21.28 a share.
In other news, the underwriters of the company's Oct. 19 IPO said they had exercised their option to buy an additional 4,575,000 shares of DuPont Fabros common stock at $21, raising the total proceeds from the offering to $678 million after expenses.