DuPont Fabros Execs Buying Shares

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.

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About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.