Tax firm Andersen raises $176 million in year-end US IPO

Dec 16 (Reuters) - Tax advisory firm Andersen Group said on Tuesday it raised $176 million in its U.S. initial public offering, as the 2025 IPO market draws to a close.

The San Francisco, California-based company sold 11 million shares in its IPO at $16 apiece, compared with the marketed range of $14 to $16 each. The IPO fetched a $1.75 billion valuation for Andersen.

Andersen and medical supplies giant Medline wrap up the 2025 U.S. IPO calendar, which saw the new listings market mount a strong comeback after three years of sluggish activity.

"After a few slower years, there's real breadth returning to the market. Strong debuts are restoring confidence, and investor participation from both institutions and retail is creating a more competitive environment for new listings," said Chelsea Anderson, partner at law firm Fenwick's corporate practice.

"Established companies that have been waiting for favorable conditions are now seizing the opportunity to go public, making this the most active environment we’ve seen in several years."

Founded in 2002 by 23 former Arthur Andersen partners, Andersen offers tax, valuation and financial advisory services to individuals and commercial clients.

Andersen reported a net income of $65.7 million on revenue of $668.3 million in the nine months ended September 30, compared with a net income of $144.5 million on revenue of $589.2 million in the same period a year earlier.

The company emerged from the rubble of global accounting firm Arthur Andersen's 2002 collapse, following a scandal at the now-defunct energy company Enron.

Arthur Andersen was convicted of obstruction of justice for its role in the Enron saga, but the verdict was later overturned by the Supreme Court.

Morgan Stanley and UBS acted as the lead book-running managers for the offering. Andersen is expected to begin trading on the NYSE under the symbol "ANDG" on Wednesday.