Schwab's New Net Message: "You've Got Ip Os!"
Charles Schwab & Co. has emerged as the giant of online trading, controlling some 30% of the market and half the assets in online accounts. Now, it's moving into investment banking to give its legions of investors a crack at initial public offerings. In a little-noticed deal on Dec. 4, Schwab for the first time served as a co-manager for the initial public offering of Select Comfort Corp., a Minneapolis air-mattress maker that handily sold 4 million shares at $17 each.
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