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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: capitalistbeatnik who wrote (26)	2/2/2000 1:28:00 PM
From: Aggie	Read Replies (1) \| Respond to of 2293

Avanex's IPO price range skyrockets to $28-$30/shr WASHINGTON, Feb 2 (Reuters) - The price range for Avanex Corp.'s initial public offering of six million common shares increased to $28-$30 per share from $13-$15, the maker of photonic processors said on Wednesday. Avanex, whose processors are designed to boost the performance of optical networks, predicted it would make about $159.8 million in net proceeds if the stock sold for $29 each. That compared with the $76.1 million in net proceeds it figured on making if the shares went for $14 each. The Fremont, Calif.-based company disclosed the boosted price range in a filing with the Securities and Exchange Commission. It has applied to trade the shares on Nasdaq under the symbol (NasdaqNM:AVNX - news). Concurrently with the IPO, Avanex will directly sell 384,615 shares each to Microsoft Corp. (NasdaqNM:MSFT - news) and MCI Worldcom Venture Fund, an affiliate of MCI WorldCom Inc. (NasdaqNM:WCOM - news), the filing said. The purchase price on those shares is $13 each, it added. Wow. Not a bad deal for Microsoft, eh? The buggers. Regards to all and good luck getting an order filled. Aggie