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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (9307)	2/26/1999 7:25:00 PM
From: AlienTech	Respond to of 43080

Intraware Rises in First Day of Trading Following IPO Orinda, California, Feb. 26 (Bloomberg) -- Intraware Inc., a provider of business software services, rose as much as 46 percent in its first day of trading following an initial public stock offering. The Orinda, California-based company rose 6 to 22 as 2.1 million shares changed hands in midmorning trading on the Nasdaq Stock Market. Earlier, the shares touched 23 3/8. They opened at 21 5/16. Yesterday, Intraware sold 4 million shares at $16 each, $1 above the top of the $13 to $15 range set by Credit Suisse First Boston Corp., which led a group of underwriters selling the shares. The sale represented a 17 percent stake and gave the company a market value of $376.5 million. Intraware ''is perceived as E-commerce related, and that's one of the sweet spots for Internet-related technology,'' said Gail Bronson, a start-up venture capitalist based in Palo Alto, California and senior analyst for IPO Monitor. Also, ''they have a blue chip list of customers, which provides testimony by default that they have a good product,'' she said. Intraware's customers include AT&T Corp., Boeing Corp., and Charles Schwab & Co. Established in August 1996, Intraware software services for information technology professionals and companies that sell business software. Its services let people who buy computer software use the Internet to evaluate, purchase, and maintain their software. Intraware trades under the symbol ''ITRA.'' BancBoston Robertson Stephens and Hambrecht & Quist LLC assisted CS First Boston in the sale.