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I'm not sure if this is the place to post it but...

I was poking around trying to find out information re: Dresser-Rand. They recently IPO'd and manufacture equipment for oil and gas producers. I found this reuters article which says the ipo deal was worth 567 million and further down it says

"Dresser-Rand said in the filing it intended to use $367.9 million of the net proceeds to pay a dividend to its stockholders immediately prior to the offering. The dividend would go to affiliates of First Reserve and members of management, it said."

Am I reading this correctly that the company took around 65% of the ipo proceeds and put it in their pockets in the form of a dividend?


link
http://64.233.161.104/search?q=cache:vQ745stnYMcJ:yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml%3Fduid%3Dmtfh16563_2005-08-05_19-12-27_n05227862_newsml+dresser-rand&hl=en
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