COM21: Broadband Products(CMTO) Message Board

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Technology Stocks : COM21: Broadband Products(CMTO)

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To: Stan Aronow who wrote (12)	5/22/1998 7:50:00 PM
From: Maverick	Read Replies (1) of 31

Com21 trading up after its IPO NEW YORK, May 22 (Reuters) - Shares of Com21 Inc., a designer of high-speed modems, jumped more than three points on Friday after its initial public offering price of $12 a share. Shares reached a high of 15 11/16 early in the session and were trading at around 15 at midday. ''I actually expected it to reach the $17 range, but I guess with the wishy-washy market and the holiday weekend, people weren't in a rush to buy it,'' said Vincent Slavin, an IPO analysts at Cantor Fitzgerald. ''Maybe will see more people buying it next week. Demand for the Com21 IPO was strong, and its underwriters, Deutsche Morgan Grenfell, raised the size and price of the offering before the deal. The deal was increased to five million shares from four million and the price was raised to $12 from the $9 to $11 price range that was originally planned.

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