Houlihan Lokey’s IPO

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Century City investment bank Houlihan Lokey officially went public Thursday not because its needs the capital but in the hope of raising its profile to bring in more business and employees, the Los Angeles Times reports. Of course, it’s also a way for owners to cash out. Insiders, including the majority owner, Japanese finance firm Orix Corp., sold shares for $21 each, below the company’s initial estimates.

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