Rob, as you know I haven't been playing the IPO rush much lately.
But, I just got word that Goldman has some shares for me @ 25 on Onis.
I just hope it does as well as my Sonus (sons)has since it jumped out of the box on May 25.
>New York, June 1 (Bloomberg) -- ONI Systems Corp., a maker of fiber-optic equipment, raised $200 million in its initial public offering, more than it planned, after the sale was delayed by the Securities and Exchange Commission.
The San Jose, California-based company sold 8 million shares at $25 each. ONI was initially asking a maximum of $16 for the shares before raising that to between $21 and $23.
``It's one of the hotter deals,'' said Ross Sakamoto, a fund manager at Symphony Asset Management, which runs the Chase H&Q IPO and Emerging Company Fund.
ONI, which raised $72 million more than it first sought, is one of two companies in more than a month that have been able to increase their asking price for stock, and then sell shares above that. The other, New Focus Inc. raised 25 percent more than it planned and its shares have more than tripled since.
Both companies are makers of fiber-optic equipment, an industry many investors are betting will grow as more fiber optic cable is laid.
The sale, initially slated for May 22, was delayed while questions from the SEC were answered.
Jun/01/2000 9:20 ET |
