Inforte sets price range at $23 to $25 per share:
biz.yahoo.com
Monday January 31, 3:45 pm Eastern Time
Inforte IPO set at 2 million shares, $23-$25/share
WASHINGTON, Jan 31 (Reuters) - Inforte Corp.'s initial public offering was set at 2 million common shares that may sell for $23-$25 apiece, the technology consulting and systems integration services provider said on Monday.
If the stock were to go for $24 a share, Chicago-based Inforte predicted it will make about $43.7 million after expenses, which it plans to use for general corporate purposes, especially for working capital and capital expenditures.
If there is heavy demand for the shares, an underwriting group led by Goldman Sachs has an option to buy 300,000 more shares.
There will be about 11.7 million Inforte shares outstanding after the IPO.
The terms of the company's initial public stock sale were disclosed for the first time in a filing with the Securities and Exchange Commission.
Inforte's initial prospectus filed with the SEC in early December did not say how many shares were in the offering, their projected price range, or other details.
The company, whose services enable clients to use Internet technology to improve their businesses, listed Monsanto Co. (NYSE:MTC - news), Sun Microsystems Inc. (NasdaqNM:SUNW - news), and Yahoo! Inc. (NasdaqNM:YHOO - news) among recent customers.
The company has a Web site at inforte.com. |
