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Technology Stocks : GPSI (Great Plains Software)

GPSI 0.250

0.0%

Oct 30 5:00 PM EST

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To: giddy guru who wrote ()	6/21/1997 7:08:00 AM
From: giddy guru	of 37

//gg// Here is a blurp from yahoo. Friday June 20 1:28 PM EDT Great Plains shares surge in their debut NEW YORK, June 20 (Reuter) - Shares of Great Plains Software Inc(GPSI - news) more than doubled in value in their first morning of trading on Friday. The stock was 16-1/4 higher at 32-1/4 by midday. More than 2.4 million shares changed hands, making it one of the most active Nasdaq issues. The company's intial public offering of three million shares was priced at $16 a share, the high end of an estimated range of $14 to $16. That range had been increased from a previous estimate of $10 to $12. Goldman Sachs & Co was the lead underwriter. The Fargo, North Dakota-based company provides Microsoft Windows NT client/server financial managment software for midsized businesses. Great Plains plans to use the proceeds of the offering for general corporate purposes, including working capital, product development, capital expenditures and possible acquisitions. Last month, Great Plains established an Australian subsidiary in Sydney to sell and support its financial management products and services in Australia and New Zealand.

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