Glenn, you told me your ML broker told you, you were too late?
I'd say they were over subscibed, so I think you should get a new broker.
And I think I need to find a new golf swing.:-(
>BEST OF THE REST
Another hot offering for the day came from Canada’s EXFO Electro-Optical Engineering Inc.’s., which ended the day up nearly 69 percent from its $26-a-share offering price to $43.88 a share. The trading symbol is "EXFO."
Quebec-based EXFO, which makes fiber-optic test, measurement and monitoring instruments for the telecommunications industry, offered 7 million shares on Nasdaq through lead underwriter Merrill Lynch.
EXFO’s equipment is used mainly by optical network carriers, manufacturers and research laboratories to measure the physical characteristics of optical fiber, components, modules and network systems.
The company plans to use proceeds to repay promissory notes it plans to issue to some shareholders as dividend payments, to repay outstanding debt and for other corporate purposes.
Also strong on Friday was the IPO from Precise Software Solutions Ltd., an Israeli provider of software that boosts the performance of Web sites. It sold 4.25 million shares at $16 each through lead underwriter Merrill Lynch. The trading symbol is "PRSE." Shares closed up 50 percent at $24 each.
The company’s Precise/SQL software competes with products sold by Oracle. Its clients include Amazon.com , Boeing, Carnival Cruise Lines, Ford Motor and Staples. |
