LeadersOnline Files to Conduct IPO
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LeadersOnline Inc., an online executive and professional search and placement business based in Irvine, filed with the Securities and Exchange Commission for a $75-million initial stock sale. LeadersOnline is owned by Heidrick & Struggles International Inc. of Chicago, one of the largest executive search firms, which itself went public last April at $14 a share. Heidrick will continue to control the company after the IPO, the filing said. Heidrick’s shares rose 13 cents to close at $36.13 on Nasdaq. LeadersOnline, headed by Chief Executive Michael T. Christy, 58, offers online recruitment and placement services aimed at companies seeking mid-level executives and professionals. The company said it plans to use the proceeds from the stock sale for a stepped-up marketing campaign, improved technology and for general corporate purposes. LeadersOnline hired Goldman, Sachs & Co., Lehman Brothers and Wit SoundView will market its shares to the public.
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