|
High-tech IPOs roll on
|
 |
February 12, 1999: 12:35 p.m. ET
Onyx Software, Bottomline Technologies lead another solid day of initial offerings
|
NEW YORK (CNNfn) - While showing little taste for stocks overall Friday, investors again displayed a hearty appetite for the day's plate of initial offerings, particularly those in the high-technology sector.
After racking up 96 points Thursday, its biggest one-day point gain, the tech-heavy Nasdaq Composite was down 56.63 points to 2,348.92 shortly after noon ET Friday.
The Nasdaq Exchange was the locus for the day's five IPOs - three of which bolted higher when they began trading.
Leading the pack of percentage gainers was Onyx Software (ONXS), shooting up by 77 percent to 22-15/16. Onyx makes customer management tools used with Microsoft's (MSFT) BackOffice corporate software priced 3.1 million shares at $13.
The lead underwriter was CS First Boston.
Also spurting higher was Bottomline Technologies (EPAY), up 66 percent to 21-9/16, after the maker of electronic-commerce software priced more than 3 million shares also at $13. BancBoston Robertson Stephens was the lead underwriter.
Coming in from Europe - and also gaining market plaudits - was cable operator United Pan-Europe Communications (UPCOY), as its American Depositary Receipts spurted 24 percent to 40-1/2 after pricing 40 million shares at $32.78.
Goldman Sachs was the lead underwriter for United, which is a division of the overseas TV services provider United International Holdings (UIHIA).
Still waiting in the wings for their market debuts Friday were title insurance provider American National Financial (ANFI), after pricing 2 million shares at $6, which is under its expected range of $7-9 dollars.
And also on the high-tech hot plate was Serena Software (SRNA), a provider of software to help mainframe computers handle changes like upgrades, which priced 6 million shares at $13 each. 
|
|
|
|
|
 |
|
