Shares of C-Bridge Internet Solutions Inc. more than doubled in price Friday after the e-commerce professional services firm raised $64 million in its initial public offering - one of the last of the year.
Published:
19 December 1999 y., Sunday
In other IPO news, AltaVista co. which runs a well-known Web portal, filed with to the SEC to go public. C-Bridge shares closed Friday at $40.06 after being offered at $16 a share. The 4 million share IPO represents a 23 percent stake in the company. Shares trade on Nasdaq under the symbol "CBIS," and Robertson Stephens was the lead underwriter.
The Cambridge, Mass.-based firm provides Internet services to help companies conduct businesses online. This sector has been on fire this year, and C-Bridge benefited from the enthusiasm for such companies, which are poised to benefit from the push to use Internet technologies to build a competitive advantage.
Its clients include Chevron Corp., General Motors Corp. and Toyota Motor Corp. Competitors include Agency.com Ltd., Razorfish Inc. and Viant Inc..
For the nine months ended Sept. 30, it posted net revenues of $13.8 million and a net loss of $2.9 million.
Šaltinis:
Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has approved under EC Treaty state aid rules a Latvian support scheme to stabilise financial markets by providing guarantees to eligible banks to ensure their access to financing.
more »
Gathering in Beijing, China's political elite gather to celebrate three decades of China's economic reform and market liberalisation.
more »
After two days of intense negotiations, European leaders reached agreement on how to achieve the EU’s ambitious climate change goals and endorsed a €200bn plan to revive the flagging EU economy.
more »
Detroit won't get its bailout, as the U.S. Senate blocked the measure to rescue America's big three car makers.
more »
The world is facing “an acute food crisis”. That was the verdict of a report adopted by MEPs in the Agriculture Committee on 8 December.
more »
The European Commission has agreed a Communication that aims to improve the functioning of the food supply chain in order to lower prices for consumers.
more »
The World Bank's 2009 Global Economic Prospects report is projecting world growth will shrink to 0.9 percent next year.
more »
Prospects for a federal aid package to help the US auto industry advanced on Monday.
more »
A new report from Aite Group LLC explores possible regulatory and legislative responses to the current financial crisis, with particular attention paid to three key topics: consumer lending, risk management and deposit relationships.
more »
A new report from Mercator Advisory Group's Retail Banking Practice focuses on the ATM and the multifaceted role it plays in the retail banking market.
more »