~OT~ Greg: IMO, Akamai will be one of this years BIGGER Ipos in the net sector. Too bad I don't have some friends over at Morgan Stanley <G>...AKAM is one to watch...FYI...
Monday September 27, 7:04 pm Eastern Time
Akamai sets IPO at 6 mln shares, $16-$18/share
<<WASHINGTON, Sept 27 (Reuters) - Akamai Technologies Inc. said Monday it plans to sell six million shares in a projected range of $16-$18 per share, a Securities and Exchange Commission filing said.
The Cambridge, Mass.-based company provides Internet content delivery services that helps firms improve website speed, reliability, and prevent crashes due to demand overload.
Akamai got a boost earlier today when software giant Microsoft Corp. (NasdaqNM:MSFT - news) said it would invest $15 million in the company as part of its move to bolster its web presence.
Akamai said it plans to use the proceeds from the sale, an estimated $93.7 million, for general corporate purposes and working capital, which could include acquisitions.
The underwriters, Morgan Stanley Dean Witter, Donaldson, Lufkin & Jenrette, Salomon Smith Barney and Thomas Weisel Partners LLC, have been allotted 900,000 shares in the event of heavy demand.
The company has applied to sell its shares on Nasdaq under the symbol ''AKAM.''>> |
