New York (June 24, 2004) -- Former Cendant subsidiary Jackson Hewitt Tax Service Inc. made its Big Board debut this week in an initial public offering priced at $17 per share.

The tax prep franchise giant's IPO of 37,500,000 shares debuted on the New York Stock Exchange trading under the symbol JTX. The offering price was below estimates of $18 to $20 a share. Shares, which dropped slightly below the offering price shortly after opening Tuesday, were trading around $17.28 late Wednesday morning.

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