Andersen shares surge 31.25% intraday on NYSE IPO success and strong investor demand.

Andersen Group Inc. surged 31.25% intraday following its New York Stock Exchange debut, driven by a $176 million initial public offering that attracted demand for approximately 10 times the available shares. The IPO, priced at $16 per share at the top of its range, was oversubscribed by institutional investors, with top 20 investors securing 70% of the stock. The firm’s leadership rang the NYSE opening bell, highlighting its transition from a 23-year-old private firm to a public entity with ambitions to expand services and invest in technology. The listing, valuing Andersen at $2.3 billion, underscored strong investor confidence in its tax, valuation, and advisory services, with CEO Mark Vorsatz emphasizing access to capital for innovation and global growth. The stock’s sharp rise reflected the IPO’s robust reception and the firm’s strategic positioning in the financial services sector.