& cplSiteName &

IPO News: Acme Soars, Neuf Preps

Ray Le Maistre
10/13/2006
50%
50%

Is it really that wise to IPO on Friday 13th? Ask the team at session border controller vendor Acme Packet Inc. (Nasdaq: APKT).

Having avoided walking under ladders and crossing the paths of black cats on the way to the office, they watched (no doubt clutching their white rabbit's feet) as Acme's stock joined Nasdaq and bounced up 57 percent in its first few hours of trading.

The vendor's starting price was $9.50, already a significant leap from earlier this week when the original price range was set at between $6.50 and $7.50. With 11.5 million shares, about 20 percent of the stock, being made available, the company raised $109 million, giving it a valuation of about $545 million.

But with Acme's net income in the first half of 2006 running at 30 percent of revenues, and with sales growing steadily, investors piled into the stock this morning and sent it soaring by $5.50, a whopping 58 percent, to $15.00. (See Acme Profits as Newport Shrinks.)

The company first announced its intention to IPO at the beginning of June, just weeks after VOIP service provider Vonage Holdings Corp. (NYSE: VG) made its disastrous entry onto the New York exchange. (See Acme Packet Lines Up IPO and Vonage Falls Hard & Fast in Public Debut.)

On the cultured side of the Atlantic, French service provider Neuf Cegetel Group (Euronext: NEUF) has revealed details of its impending listing on the Euronext exchange in Paris.

Neuf is going public in part to raise money for its acquisition of AOL Inc. (NYSE: AOL)'s French broadband business. (See Neuf Cegetel Heads for IPO and Neuf Cegetel Buys AOL France.)

The price range for its shares is set to be between €19 and €22.08, which, at a price mid-way between those limits, would raise about €760 million ($951 million) and value the operator at about €4.2 billion ($5.26 billion).

— Ray Le Maistre, International News Editor, Light Reading

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
The 'gleaming city on a hill,' Steve Saunders calls it. But who is going to take us from today's NFV componentry to the grand future of a self-driving network? Here's a look at the vendors hoping to make it happen.
Flash Poll
Upcoming Live Events
September 28, 2017, Denver, CO
October 18, 2017, Colorado Convention Center - Denver, CO
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 10, 2017, The Westin Times Square, New York, NY
November 30, 2017, The Westin Times Square
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Could the Connected Car Help Prevent Terrorism?
Dan Jones, Mobile Editor, 9/15/2017
Cities Slam FCC on Broadband Proceedings
Mari Silbey, Senior Editor, Cable/Video, 9/15/2017
Apple's New iPhones: No Gigabit LTE for You!
Dan Jones, Mobile Editor, 9/14/2017
1 Million Pirate Set-Top Boxes Sold in the UK
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 9/20/2017
Close the Loop to Automate Service Assurance
Carol Wilson, Editor-at-large, 9/14/2017
Animals with Phones
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed