& cplSiteName &

ONI's IPO Price Range Raised

Light Reading
News Analysis
Light Reading

Goldman, Sachs & Co. http://www.gs.com has raised the expected price range of shares in ONI Systems Corp., which is staging an IPO next week. It now says the price will be $21-$23, instead of $14-$16. A total of 8 million shares are being offered.

The higher price range probably reflects the success of yesterday's IPO by New Focus Inc http://www.newfocus.com (NUFO). In the first day's trading yesterday, it price reached $51 - more than double the $20 offer price.

New Focus's success demonstrates that optical networking stocks are bucking the bear market for tech stocks in general.

By Peter Heywood, international editor, Light Reading, http://www.lightreading.com

(0)  | 
Comment  | 
Print  | 
Related Stories
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Upcoming Live Events
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events