Excel Switching Corporation (XLSW) Message Board

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Technology Stocks : Excel Switching Corporation (XLSW)

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To: Jeff Jordan who wrote (4)	11/9/1997 2:55:00 PM
From: Jeff Jordan	Read Replies (1) of 222

Excel Switching IPO heavily traded HYANNIS, Mass, Nov 5 (Reuters) - Excel Switching Corp, which had its debut on the Nasdaq on Wednesday, closed at $24-1/2 after a day of heavy trading. With 4.4 million shares traded, Excel was the 15th most actively traded stock on the Nasdaq on Wednesday. The company's initial public offering priced 4.5 million shares at $21 per share. The company said in a press release that it sold all of the shares. In addition, the company added that a selling shareholder granted the underwriters an option to purchase an additional 675,000 shares to cover over-allotments, if any. Morgan Stanley Dean Witter, Hambrecht & Quist and NationsBanc Montgomery Securities Inc served as managers of the underwriting group. Excel Switching provides open switching platforms for telecommunications networks worldwide. ((-- New York Newsdesk (212) 859-1610)) fast.quote.com JJ

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