VeriSign plans 2.4 mln share offer
January 5, 1999 09:08 AM
MOUNTAIN VIEW, Calif., Jan 5 (Reuters) - VeriSign Inc. said Tuesday it had filed a registration statement with the Securities and Exchange Commission, proposing a public offering of 2.4 million shares of its common stock.
The security software designer said in a statement it would offer 750,000 of the total, and its shareholders the remaining 1.65 million.
It said it had granted the underwriters of the offering the option to buy up to an additional 360,000 shares to cover any over-allotments.
Morgan Stanley Dean Witter would lead manage the underwriting group with Hambrecht & Quist LLC, Dain Rauscher Wessels, a division of Dain Rauscher Inc., and BancBoston Robertson Stephens serving as co-managers, it said.
In the third quarter ended Sept. 30, VeriSign had 22.6 million shares.
Its stock was two down at 58 on the Nasdaq market in morning trade.
VeriSign, which went public nearly a year ago, writes software for business on the Internet, certifying that a document or piece of information was sent by the authentic sender and received by the authentic receiver.
((-- New York newsroom, +212 859 1610)) REUTERS
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