The delayed initial public offering (IPO) on the US stock exchange of Pacific Internet, the Singapore government owned internet service provider, is to go ahead in the next two weeks with an increased number of shares and higher price per share. Chief underwriters Lehman Brothers blamed the delay of the IPO, which should have gone through late last year, on the US Securities Exchange Commission. In response to high expected demand and in an attempt to cash in on the huge current popularity of internet-related shares, the number of share offered is expected to be raised from 2.5 million to 3 million, with the mid-range price being raised from $14 to $16 per share. The company is expected to trade under the Nasdaq symbol ‘PCNTF’.
