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July 14, 1997updated 05 Sep 2016 12:49pm

INTEL SNAPS UP PART OF @HOME’s STRATOSPHERIC IPO

By CBR Staff Writer

Among the buyers of Thursday’s Nasdaq debutante @Home Networks Inc’s shares was Intel Corp. The chip giant bought a few hundred thousand of the shares, according to reports, which were priced at $10.50. However, as soon as the market opened Friday morning, shares of the internet-over cable company headed for the stratosphere, hitting $25.50 at one point and closing up $6.50, or 61.9% at $17.00. Share volume was a whopping 12.6 million, second only to MCI Corp on Nasdaq, which was having a particularly bad day. @Home only offered 9 million shares. The company had edged up the asking price twice in the days before the offering and must be very happy with its lot, as it only floated 7.7% of the company’s stock.

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