Tuesday, March 27, 2007

Aruba Networks IPO rises 29 pct in market debut | Reuters.com

"Wireless networking hardware maker Aruba Networks Inc. (ARUN.O: Quote, Profile , Research), on Tuesday rose as much as 29 percent in its market debut, a day after pricing above a forecast range.
Shares of the company opened up 27 percent at $14 before climbing to $14.22 in late morning trading on the Nasdaq.
On Monday, the Sunnyvale, California-based company raised $88 million with an 8 million share offering that sold for $11 per share compared with an $8 to $10 forecast range.
Underwriters, led by Goldman Sachs & Co. and Lehman Brothers, have the option to purchase an additional 1.2 million shares to cover overallotments. "

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