Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Packeteer Inc-(PKTR) -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (10)	7/28/1999 2:00:00 PM
From: AJ Berger	Read Replies (1) \| Respond to of 101

Packeteer <PKTR.O> IPO shrs up 9-1/4 AT 24-1/4 NEW YORK, July 28 (Reuters) - Shares of newly public software provider Packeteer Inc. <PKTR.O> shot up more than 61 percent from its pricing upon opening Wednesday. The Cupertino, Calif.,-based company priced 4 million shares at $15 through lead underwriter Banc Boston Robertson Stephens. The expected price range was raised from $10 to $12 per share to $12 to $14 each. Shares of Packeteer were trading up at 30-3/8 in early afternoon activity, and touched a high of 32, up 113 percent from the pricing. Packeteer provides network software products that enhance application performance over wide area networks and the Internet. An enterprise wide area network, known as WAN, is a computer communications network that extends beyond one location. Net proceeds from the offering will be used for general corporate purposes, including working capital, repayment of debt and potential acquisitions, Packeteer said. (( -- Angela Moore, New York Newsdesk, (212) 859-1719)) REUTERS * end of story *