through the roof

Sally Khudairi (
Wed, 17 Nov 1999 23:41:16 -0500

Computergram International -- Section: 03. Financial News Raises $297m in Secondary Offering

Wireless internet software and services provider Inc has completed
a secondary public offering of 6.6 million shares at $135 each. Of the
total, 2.2 million were sold by the company - raising $297m - and the rest
by existing stockholders. The offering was managed by Credit Suisse First
Boston Corp, Goldman Sachs & Co, Hambrecht & Quist LLC, BancBoston Robertson
Stephens Inc, US Bancorp Piper Jaffray Inc and Banc of America Securities

Redwood City, California-based sells a software suite that enables
two-way interactive messaging and the delivery of internet-based information
services to mass-market wireless phones. Investor confidence in the
company's offering has given it a market capitalization of $8.45bn just five
months after it went public. The $135 secondary offering price represents a
744% increase over the $16 IPO price in June. shares fell $8.25 to
close at $135.0625 Wednesday.