At Home IPO price range raised
NEW YORK, July 10 (Reuter) - The price to buy shares of this week's hottest initial public offering just got higher.
According to a filing today with the U.S. Securities and Exchange Commission, shares of At Home Corp(ATHM -
news) will sell for between $9 and $11, up from an initial estimate of $7-$9.
The Redwood City, California company allows customers to hook up their PCs over their existing cable television
coaxial cables with cable modems, which operate at over 300 times the speed of regular dialup modems, according
to its prospectus.
The offering is relatively small, eight million shares, which would raise about $80 million. But the company would
have roughly 108.5 million shares outstanding after the IPO, giving it a market capitalization of over $1 billion.
Analysts have said the deal is benefitting from the company's growth potential and its solid team of underwriters.
Morgan Stanley Dean Witter will lead the IPO and co-underwriters are Alex. Brown & Sons, Hambrecht & Quist
and Merrill Lynch. |
