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
Nautilus Hyosung announced last week that it had been in talks with Triton and Dover for several months and expected the sale to close before the end of the year.
more »
Motorola, Inc. through Motorola Ventures, its strategic venture capital arm, today announced that it has made an investment in Amobee Media Systems, a leader in advertising solutions for mobile operators.
more »
PrivatBank, based in Ukraine, has further strengthened its self-service business with the purchase and installation of 3,100 Wincor Nixdorf ATMs for sites in Ukraine, Russia, Georgia, Cyprus and Latvia.
more »
According to final data presented by the Ministry of Finance, national budget revenue of the 1st half-year of the current year amounted to LTL 11 billion 161.8 million, and that was by 1.1 % over the target.
more »
On 29 July, Lithuanian Minister of Foreign Affairs Petras Vaitiekūnas took part in the European Union’s General Affairs and External Relations Council meeting in Geneva.
more »
Statistics Lithuania informs that based on available statistical data and used econometric models, estimated GDP in II quarter 2008 totalled LTL 28393.3 million at current prices and, as compared to II quarter 2007, grew by 5.5 per cent
more »
Cisco, in collaboration with the Cisco Learning Institute, today announced the results of a study on networking labor needs in North America.
more »
Credit card firms are cashing in on customers who use their plastic to take out cash from an ATM, according to new analysis by MoneyExpert.com.
more »
Despite deterioration in the economy and general business climate, Wincor Nixdorf International says it expects to reach its financial goal of increasing year-to-year net sales by 8 percent and earnings before taxes and amortization by 10 percent.
more »
The Ingenico Group recorded (unaudited) consolidated revenue of €186 million for the second quarter of 2008, an increase of 32% at current exchange rate and 35% at constant exchange rate.
more »