Ando Financing Firm, I believe you have misunderstood. The board is new, the company's IPO is not. VNO went public in 1957, but actually at that time the company was Two Guys. VNO bought out Two Guys around 1982 I believe.
In regards, to newly public companies, price has no involvement. Take a well known company such as Berkshire Hathaway for an example. BRK's IPO price was $11.40 I think in 1964. In today's money that IPO would be $85.90. I'm sure there are some other IPO's that have been priced higher, but I thought I would save myself the time of digging for that information. Point is, newly public companies don't have to trade low in they're early years.
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