COM21: Broadband Products(CMTO) Message Board

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Technology Stocks : COM21: Broadband Products(CMTO)

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To: ftth who wrote (4)	5/22/1998 2:29:00 PM
From: Maverick	Read Replies (1) of 31

TODAY'S HOT IPO: The initial public offeirng of cable-modem technology company, Com21 Inc. (CMTO 15 +3, +25%), is being well-received by investors. After pricing at $12 per share, the stock opened trading at $15.3125 and has moved within a range of $14 to $15.6875. Initial price talk was for the Deutsche Morgan Grenfell managed deal to come between $9 and $11, but the range was hiked to $10-$12 and the size of the offering was increased by 25% to 5 million shares. CMTO's ComUNITY Access system enables cable operators to provide high-speed Internet access to corporate telecommuter, small office/home office and residential users. The company currently has in development an MCNS-compliant (Multimedia Cable Network System) modem for the North American cable market intended primarily to address the residential market. CMTO has a very limited operating history, as the company did not begin product shipments until April 1997. For 1997 and the first 3-months of 1998, CMTO logged revenues of $15.65 mln (vs yr-ago $1 mln) and $7.02 mln (vs yr-ago $0.5 mln). Excerpts by Briefing.com

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