AKAM bumps offering from 6.0 MM to 8.0 MM shares:
biz.yahoo.com
Wednesday October 13, 8:36 pm Eastern Time
Akamai Tech raises IPO to 8 mln shares from 6 mln
WASHINGTON, Oct 13 (Reuters) - Akamai Technologies Inc. said Wednesday it is increasing the number of shares it plans to sell in its initial public offering to eight million from six million, 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 still plans to offer the shares in a projected range of $16-$18 per share.
The company said it plans to use the proceeds from the IPO, now an estimated $125.3 million instead of $93.7 million, for general corporate purposes.
Akamai also boosted the number of extra shares it has allotted the underwriters to 1.2 million from 900,000, the filing showed. The underwriters include Morgan Stanley Dean Witter, Donaldson, Lufkin & Jenrette, Salomon Smith Barney and Thomas Weisel Partners LLC.
The company has applied to sell its shares on Nasdaq under the symbol ``AKAM.' |
