Is it Enough? Vonage Sells $531M in IPO Shares
Internet phone service provider Vonage Holdings Corp. on Tuesday priced an initial public offering worth about $531 million, according to an underwriter.More here.
The 31.25 million share offering priced at $17 per share, at the midpoint of $16 to $18 forecast, in a test of investors' willingness to accept risk amid growing market volatility.
Vonage has acknowledged it may never be profitable and is viewed with skepticism by many analysts, who cite the growing competition it faces in providing voice-over-Internet protocol (VoIP) services.
posted by Fergie @ 5/23/2006 04:33:00 PM
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