Diamonds in the news: Sunrise jewelry firm Odimo files initial public offering.
Excerpt:
Online diamond and jewelry retailer Odimo of Sunrise filed an initial public offering Friday to sell an estimated $57.5 million in stock.
The filing comes two months after Seattle-based Blue Nile -- another diamond and jewelry retailer on the Internet -- and investors sold $76.7 million of shares in an IPO.
Blue Nile's shares are up 65 percent since debuting at $20.50 on May 20. The stock closed at $33.94 on Friday.
But David Menlow, president of IPOfinancial.com, a research firm that studies public offerings, doesn't expect Odimo's IPO will be greeted with the same fanfare. Odimo operates the websites Diamond.com, Ashford.com and WorldofWatches.com., selling brand-name luxury goods at as much as 60 percent off retail.
Posted by GilbertZ at 01:27 PM
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