Fortune favors the brave, and Hambrecht & Quist Group Inc has been rewarded for its courage in going ahead with its initial public offering in the face of rapidly deteriorating market conditions by seeing the storms ease in the week ahead of the actual sale, so that the shares ended their first day’s trading up $3 at $19. The timing of the deal surprised analysts, who expected it later this month, and was in contrast with the many flotations that have been postponed – and it gives Hambrecht a happy tale to tell its current flock of nervous debutants that it would like to hurry to market.
