Ten days after its IPO, shares of
DuPont Fabros [1] (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.
Rich Miller is the founder and editor-in-chief 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.
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URL to article: http://www.datacenterknowledge.com/archives/2007/10/30/dupont-fabros-execs-buying-shares/
URLs in this post:
[1] DuPont Fabros: http://www.dft.com/
[2] Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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