Thursday, March 15, 2007

BigBand Bounces 31% in IPO

"Shares of BigBand Networks Inc. leaped Thursday in first-day trading for the provider of equipment for cable-television companies.

The Redwood City, Calif.-based company's stock rose $4, or 30.8 percent, to close Thursday at $17 on the Nasdaq Stock Market.

The initial public offering price was $13 for each of the 10.7 million shares, above the expected price range of $10 to $12 set by underwriters Morgan Stanley and Merrill Lynch & Co."

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