Agilent bumps up both the price range and number of shares:
biz.yahoo.com
Wednesday November 17, 11:41 am Eastern Time
HP's Agilent Tech boosts IPO size, price
WASHINGTON, Nov 17 (Reuters) - Agilent Technologies Inc., a planned spinoff of computer maker Hewlett-Packard Co. (NYSE:HWP - news), said on Wednesday it was increasing its initial public offering to 65 million shares from 57 million and raising the expected price range to $26-$28 a share from $19-$22.
Agilent, in an amended prospectus filed with the Securities and Exchange Commission, also said it would use net proceeds from the IPO to pay Hewlett-Packard as a dividend.
Agilent is a provider of test and measurement products for such high-growth areas as the semiconductor and healthcare industries.
At $27 a share, Agilent would raise $1.67 billion in the IPO. With 445 million shares outstanding after the IPO, the company would have a market value of $12 billion (at $27 per share).
Agilent said it would use net proceeds from the IPO to pay
Hewlett-Packard as a dividend.
The underwriters include Morgan Stanley Dean Witter, Goldman, Sachs & Co., Credit Suisse First Boston, Merrill Lynch & Co. and Salomon Smith Barney, among others. |
