The initial public offering of Asymetrix Learning Systems Inc failed to grab the interest of investors on Friday, closing at exactly the offer price, with at least 10% of the stock remaining unsold. Asymetrix Learning Systems is the online training software company that used to be called Asymetrix Corp, which was started by Paul Allen back in 1984. It launched its first major integrated product, Librarian, in January this year. However, its offer of 3.0 million new shares at $11 flopped somewhat on Friday. After opening at a $1 premium, the stock quickly fell, hitting $10.375 at one point before climbing gradually up to close at $11.00 exactly. The trading volume was 2,595,500, so at least 13% went unsold, and probably more than that because some of the shares were probably sold and then re- sold, pushing up the volume. The other part of Asymetrix was spun out last year as SuperCede Inc, named after the Java compiler that is its main product. The offer was underwritten by NationsBanc Montgomery Securities LLC, BancAmerica Robertson Stephens and Hambrecht & Quist LLC.
