SAIC IPO Today

Wow - if I had not seen it myself, I would not have believed it. I switched on CNBC just in time for the opening bell and saw that SAIC, Inc. (SAIC) was going public today. SAIC is a major employer in the Washington DC area, so I expect there to be many many more millionaires - the IPO price was set at $15.00 a share and as of 11:00 AM it is trading around $18.00. Nice 20% jump.

SAIC, Inc. is trading under the symbol SAI.

This entry was posted on Friday, October 13th, 2006 at 10:27 am and is filed under Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “SAIC IPO Today”

1. A. Jason on October 16th, 2006 at 5:41 am

   Unlike this post and the Washington Posts’ article insinuate not all SAIC employees will become wealthy off of this. Perhaps those in the already wealthy managerial side, as well as those with many years in the company that were able to suck up lots of internally traded “stock” through the retirement plan purchasing (or made enough salary to actually afford to live in the DC area AND buy stock) will be millionaires, but I doubt the bulk of the employees will be buying Bentley’s as the WP article put it. And in contrary to the WP’s article not all the scientists in the gov’t contract side of the company are high paid, apparently they went with the age-old assumption about gov’t contractors being overpaid fat-cats, and didn’t interview actual employees other than perhaps managers for large DOD contracts.

2. Administrator on October 16th, 2006 at 10:46 am

   Thanks for the interesting viewpoint! I didn’t even see the WP article - I was just making the assumption, as many of my friends that worked at SAIC did accumulate internal stock. I also assumed that employees would have a chance at the IPO before trading started - in this case a nice 20% gain in one day. Of course this does not always happen…

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