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News > International
Dutch Net IPO soars
March 17, 2000: 6:46 a.m. ET

World Online prices debut at top of range, values ISP at $14.2B euros
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LONDON (CNNfn) - Europe's largest Internet IPO hit the ground running Friday, with shares of World Online surging 16.7 percent on its first day of trading on the Amsterdam bourse.
    Europe's largest floatation opened at 50.20 euros, up from the offering price  of 43 euros but a far cry from a peak of 135 euros seen in unofficial trading ahead of the debut.
    In the first minutes of trade, the value of the firm rose to 14.2 billion euros from 12.2 billion euros, based on the offer price. World Online's float of about 24 percent of the company, 20 percent of which went to retail investors, raised 2.9 billion euros. The IPO was more than 20 times oversubscribed.
    The Sandoz Family Foundation will control more than 40 percent of World Online following the IPO, and chip maker Intel (INTC: Research, Estimates) will hold 8 percent. Back to top
    -- from staff and wire reports

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