Arthur Andersen Ex-Partners Raise $176 Million in US IPO

Andersen Group Inc., the US arm of the professional services firm that succeeded the shuttered accounting giant Arthur Andersen, raised $176 million in an initial public offering priced at the top of the range.

The firm sold 11 million shares at $16 each, according to a statement Tuesday. The company had marketed 11 million shares for $14 to $16 each.

At the IPO price, Andersen would have a market value of around $1.7 billion based on the outstanding shares listed in its filings.

The San Francisco-based company had net income of $65.7 million on revenue of $668.3 million for ...