Orchestream Gets A Flying Start
The stock market debut of Orchestream Holding PLC (London Stock Exchange: OCH) http://www.orchestream.com got off to a flying start this morning, with its share price shooting up from 200 to 313 pence in the first hour of trading.
This gives the software vendor a market capitalization of £362 million ($536 million), according to Reuters.
Orchestream's IPO was over-subcribed nine-fold, leading some analysts to suggest that the offer price should have been higher than 185 pence.
Orchestream's success vindicates its decision to switch its marketing message at the end of last year. It now promotes its ability to create virtual private networks (VPNs) rather than its ability to deliver performance guarantees using quality of service (QOS) technology (see Orchestream Models Its Makeover ). By Peter Heywood, International Editor, Light Reading, http://www.lightreading.com