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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 12.53

+1.7%

3:59 PM EST

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To: Mohan Marette who wrote (109)	10/24/1999 6:09:00 PM
From: Mohan Marette	of 1471

Satyam Infoway over-allotment option exercised. 10/25/99 (BusinesLine) CHENNAI: Satyam Infoway Ltd said the underwriters of its recent initial public offering of American depository shares (ADS) had exercised their over-allotment option to purchase an additional 626,250 ADSs, raising an additional $11 millions. After giving effect to this option exercise, the offering involved 1,801,250 ADSs, and the company has received net proceeds of over $80 millions from the total offering, according to a company release. The IPO price was $18 per ADS. Satyam Infoway, which is now traded on the Nasdaq under the symbol ``Sify', had originally raised $75 millions through the IPO by issuing 4.175 million ADSs. The offering was lead-managed by Merrill Lynch and co-managed by Salomon Barney._ Our Bureau

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