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April 14, 1997updated 05 Sep 2016 1:09pm


By CBR Staff Writer

BEA Systems Inc, the Sunnyvale-based middleware company who recently signed a worldwide reseller agreement with Hewlett Packard Co (CI No 3,132), executed Friday the initial public offering of 5 million shares of common stock at $6 per share. Trading volume on Friday was nearly 2.6 million and the stock closed at $6.25. The shares are being sold by the company, with Goldman, Sachs & Co as the lead underwriter. BEA will use the money for repayment of borrowings, possible acquisitions and working capital. The stock is trading on Nasdaq under the symbol BEAS.

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