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July 15, 1997updated 05 Sep 2016 12:19pm


By CBR Staff Writer

Electronic commerce and web-based Electronic Data Interchange company Harbinger Inc has filed for a public offering of 2.9 million shares, 1.8 million of them new. Existing shareholders AXA Equity & Law Assurance Society Plc, Orbis Pension Trustees Ltd and Vulcan Ventures Inc – Paul Allen’s investment company. As Harbinger is only offering 1.8 million of the shares it can expect to make about $58m based on yesterday’s closing price of $34.75 and net of the usual expenses. The Atlanta, Georgia-based company and the selling shareholders have agreed to allocate a further 435,000 shares to cover over-allotments. Harbinger did its initial public offering in August 1995 at $12. The underwriters are Alex Brown & Sons Inc, Robertson, Stephens & Co and Interstate/Johnson Lane Corp.

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