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News  
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NYSE IPOs jump
WCI Communities pops; Anteon continues war-related IPO streak.
March 12, 2002: 5:20 PM EST

NEW YORK (CNN/Money) - Investors flocked Tuesday to the debut of WCI Communities, while Anteon International continued the streak of other defense-related initial public offerings.

Shares of WCI Communities (WCI: up $3.67 to $22.67, Research, Estimates), a builder of gated communities, rose nearly 20 percent after pricing 6.9 million at $19 per share. The IPO represents 16 percent of the company's total outstanding shares.

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WCI designs and constructs retirement homes and luxury towers for the affluent buyer in Florida.

Anteon International (ANT: Research, Estimates) shares rose more than 11 percent after pricing 5 million shares at $18 a share.

Anteon provides systems engineering services primarily to the defense community. The company's services allow clients to manage their mission systems, which include ships, aircraft, weapons and communications. For the U.S. Navy, Anteon provides the systems testing and threat analysis used in its radar, missile and command and control systems.

In February, Integrated Defense Technologies (IDE: unchanged at $25.05, Research, Estimates), a provider of technology to the U.S. military, rose 12 percent. ManTech Corp., which offers information technology services primarily to the U.S. Department of Defense, gained 14 percent last month.

UBS Warburg and Credit Suisse First Boston led the offering for Bonita Springs, Fla.-based WCI Communities and Goldman, Sachs & Co. led the offering for Anteon International.  graphic






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