First Boston: privatization of CSFBdirect involves US$73.6 mln

Credit Suisse First Boston announced that the plan of privatilizing its subsidiary CSFBdirect would involve US$73.6 mln. It is less than two years after CSFBdirect was span-off. First Boston will repurchase 18.4 mln CSFBdirect shares at US$4 each. The price is 60% premium to the closing price of last Friday , but only 20% of the issue price of US$20 . The stock rose to US$45 on the first day after being listed.

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