@Home Network Inc, the internet-over-cable pioneer got its initial public offering away yesterday above its asking price, even though it adjusted it upwards right at the last minute. The company sold 9 million shares at $10.50 to raise $87.9m after expenses and give it a market capitalization of $1.25bn. In its first filing the company had expected to sell 8 million at between $7 to $9 per share; then upped its target to between $9 to $11. Underwriters were led by Morgan Stanley, Merrill Lynch, Alex Brown & Sons and Hambrecht & Quist. @Home completed a placement in April, raising $48m. The shares will trade on Nasdaq under the symbol ATHM.
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